Nomura Research Institute, Ltd. (NRI) announced that they have established “Nvantage India Private Limited” (NVANTAGE), a joint venture between NRI and Nomura Holdings, Inc.
Nomura is one of the prime providers of business consulting and system services. Nomura has a net revenue of more than $10 billion. It also has over one-third of the shares of NRI. The 66% of the new joint venture belongs to Nomura and rest 34% to NRI.
An official from the company stated that
This was a clear decision for us to make, as our organizations have a long history of successful partnerships, as well as a strong track record of bringing new streams of efficiency and cost reduction to the financial services sector.
The services consist of system development, maintenance, operations, and business process outsourcing, that will let clients perform better on cost and operational fronts with their global functioning.
The venture clubs the technical and operational knowledge of Nomura India, with Nomura Holdings as their parent company, along with the service potential of the former to provide sophisticated solutions to professionals worldwide. NVANTAGE through this venture will strive to provide managed line of services for international banking.
N in NVANTAGE is from the “N” of NRI and Nomura both complementing “ADVANTAGE,” implying that NVANTAGE is to be a reliable associate for clients’ continuous and sustainable growth.
The platform, although was planned to be fully functional by summer end this year, but there are not hereabouts about the technology being completely ready. Moreover, the prior plan included starting the venture just with $23 million, but it had been stated that it could only start with half of this value.
The platform facilitates smooth trading of bonds and securities. Releasing bonds is expensive and requires heavy administration. Therefore only a few valued ones have been brought to the forefront, unlike the multiple smaller value ones. This enables the bond trading inconvenient for firms with lesser capital.
Automating some parts with blockchain software will enable secure, trustworthy validation along with reduced dependence on hard documents. As stated earlier, BOOSTRY employs the smart contracting technology, DAML of Digital Asset, a partner of NRI India, who have a distinct blockchain initiative using DAML.
Nomura now claims successful relationships with Hedera Hashgraph, Digital Asset, as well as R3. The firm has also put in some money in Quantstamp, and Omise the fintech firm, but it looks like it will not be linked to BOOSTRY.
Securities and bond trading have come out to be an active phase in the blockchain. The World Bank also has raised $34m towards its blockchain bond ‘bond-I.’ This accompaniment follows Spanish bank BBVA conducting a minimum of eight blockchain pilots for issuing different types of bonds.