Nomura Bank subsidiary launches MATIC-based institutional staking fund

The program partners are the TruFin lending company and the Balancer exchange

27.03.2024 - 15:37

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3 min

What’s new? Laser Digital, a subsidiary of Japanese banking giant Nomura, is expanding operations in the Web 3.0 sector with the launch of a fund based on the Polygon (MATIC) blockchain’s native token. The product is aimed at institutional investors, including sovereign wealth funds and private asset management firms.

Material by The Defiant

What else is known? Laser Digital Polygon Adoption Fund is launched in partnership with payment and credit card company TruFin. Investors will receive income from validating transactions in Polygon ecosystem networks and protocols through TruFin’s TruStake staking service and will be offered a TruMATIC token for blocking funds.

TruFin noted that TruStake’s returns have significantly outperformed the largest liquid staking protocol, Lido, offering a 5% annualized return over the past nine months. TruFin has also partnered with decentralized exchange (DEX) Balancer to provide TruMATIC owners with access to additional services and revenue opportunities. The exchange experienced a hack last September.

In January, Laser Digital introduced the Libre protocol with support for smart contracts for asset tokenization based on Polygon CDK.

Last year, Komainu, a custodian founded by Nomura, Ledger, and CoinShares, received a license in Dubai. It also became one of four crypto firms that managed to get a license in the UK.

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The structure of the fund allows pension savings to be invested in it, among other things

Also in January, the Fox media company launched a protocol on Polygon to combat deepfakes. Media can register their materials in the protocol to confirm their authenticity.

At the time of writing the news, MATIC occupies the 19th line of the ranking of cryptocurrencies by market capitalization with a figure of $9,7 billion and is trading at $1,04, having lost 0,3% over the day. Since the beginning of the year, the growth amounted to 6,4%.

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