Nomura’s digital asset arm, Laser Digital, has partnered with Keyring Network to develop institutional-grade fixed income products running on decentralized finance infrastructure. The first markets will launch on Euler Finance, a modular lending protocol on Ethereum, before expanding to additional protocols. Keyring Network handles compliance through zero-knowledge proofs to verify counterparties without exposing personal data, while Laser Digital structures portfolios and sets risk parameters, effectively acting as an underwriter. Both firms already completed a proof of concept in 2024 for compliant USDC transfers flowing through DeFi infrastructure. No committed capital, fee structure, or specific launch date was disclosed.
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