Nomura Securities buying and selling flooring is pictured on the firm’s Otemachi Head Workplace in Tokyo, Japan, November 18, 2016. REUTERS/Toru Hanai
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HONG KONG, Might 13 (Reuters) – Nomura (8604.T) has begun providing bitcoin over-the-counter derivatives to purchasers, it mentioned Friday, the newest transfer by a conventional monetary establishment into the cryptocurrency business, at the same time as markets are in turmoil.
The trades, executed on the CME by crypto asset buying and selling agency Cumberland DRW this week, have been the Japanese funding financial institution’s first digital asset trades, mentioned Nomura’s head of markets, Asia ex-Japan, Rig Karkhanis in a press release.
“Working with institutional-grade counterparties will permit us to scale into the rising demand from our purchasers,” he mentioned.
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Many international funding banks have been seeking to supply purchasers extra crypto associated providers, responding they are saying to demand from institutional traders and personal purchasers for entry to what had been a quick rising sector.
Nevertheless, crypto markets have tumbled this week as a meltdown in TerraUSD, one of many world’s largest stablecoins, despatched digital tokens, already swept up in a sell-off of riskier belongings, into meltdown. read more
Bitcoin hit a 16-month low of round $25,400 on Thursday.
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Reporting by Alun John; Modifying by Kim Coghill
Our Requirements: The Thomson Reuters Trust Principles.
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