Nomura’s digital assets subsidiary, Laser Digital, has invested in ClearToken, a startup that is preparing to launch a clearing house for the digital asset marketplace. Although the specific terms of the investment remain undisclosed, ClearToken claims to have identified a critical gap in the digital asset market structure, which it aims to address by building a central counterparty (CCP).
The proposed CCP will eliminate bilateral counterparty risk for settlement, financing, and derivative transactions by centralizing clearing, settlement, collateral, and risk management processes, similar to those used for traditional exchange-traded assets. This approach allows all stakeholders in the ecosystem—including investors, exchanges, brokers, market makers, and custodians—to interact with the CCP rather than engaging directly with one another. As a result, transactions will be streamlined, capital efficiency enhanced, and risk reduced for all participants involved.
ClearToken’s CCP will not be tied to any specific exchange or platform, with the capability to clear transactions agreed upon bilaterally in over-the-counter markets. The UK-headquartered company is collaborating with regulators worldwide to develop compliant rules designed to stabilize the current ecosystem and protect its participants.
The initiative is being incubated by Laser Digital, an independent digital asset firm based in Switzerland, established by Nomura last year to explore sectors such as decentralized finance (DeFi), centralized finance, web3, and blockchain infrastructure.
Ben Stephens, CEO of ClearToken, stated, “It is our ambition that this solution will mature the market to its next stage. We are currently engaged in discussions with several key market participants who are fully supportive of our initiative.” He emphasized that with Laser Digital’s backing, ClearToken is poised to advance as a leading team with substantial experience and expertise.
Jez Mohideen, CEO of Laser Digital, who will join ClearToken’s board, remarked, “ClearToken’s initiative has the potential to transform a marketplace burdened by bilateral risk, reshaping the market as we know it. We are proud to be an investor and an early supporter of this essential innovation.”