Nomura Offers Its First Bitcoin Derivatives As Crypto Markets Crash

0

The trading floor of Nomura Securities is pictured at Otemachi’s headquarters in Tokyo, Japan November 18, 2016. REUTERS/Toru Hanai

Join now for FREE unlimited access to Reuters.com

Register

HONG KONG, May 13 (Reuters) – Nomura (8604.T) has started offering bitcoin over-the-counter derivatives to its clients, it said on Friday, the latest move by a traditional financial institution in the cryptocurrency sector, even as the markets are in turmoil.

The trades, executed on the CME by crypto asset trading firm Cumberland DRW this week, were the Japanese investment bank’s first digital asset trades, said Nomura’s head of markets, Asia ex-Japan. , Rig Karkhanis in a statement.

“Working with institutional-grade counterparties will allow us to adapt to growing demand from our clients,” he said.

Join now for FREE unlimited access to Reuters.com

Register

Many global investment banks have sought to offer their clients more crypto-related services, they say responding to demand from institutional investors and private clients to access what was a rapidly growing industry.

However, crypto markets fell this week due to the collapse of TerraUSD, one of the world’s largest stablecoins, which sent digital tokens, already swept away by a selloff of riskier assets, into the collapse. Read more

Bitcoin hit a 16-month low of around $25,400 on Thursday.

Join now for FREE unlimited access to Reuters.com

Register

Reporting by Alun John; Editing by Kim Coghill

Our standards: The Thomson Reuters Trust Principles.

Share.

Comments are closed.