Even when markets are in upheaval, Nomura has begun offering bitcoin over-the-counter derivatives to clients, the latest step by a traditional financial institution into the cryptocurrency industry.
Nomura launches its first bitcoin futures at a time when cryptocurrency prices are falling
“Working with institutional-grade counterparties will enable us to scale to meet our clients’ growing demand,” he explained.
The deals, which were completed on the CME by crypto asset trading firm Cumberland DRW this week, were Nomura’s first digital asset trades, head of markets, Asia ex-Japan.
Many global investment banks have been aiming to offer more crypto-related services to their clients, in response to demand from institutional investors and private clients for access to what has been a fast-growing market.
However, crypto markets have tumbled this week as a meltdown in TerraUSD, one of the world’s largest stablecoins, sent digital tokens, already swept up in a sell-off of riskier assets, into meltdown.
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