Japanese investment bank Nomura this week cryptocurrency launched derivatives contracts trading. With this step, the giant bank joined its competitors such as Goldman Sachs and JPMorgan.
Nomura Launches Bitcoin Cryptocurrency Derivatives Trading
For all Asian customers outside Singapore, the bank said in a statement. bitcoin Launched over-the-counter cryptocurrency derivatives with negotiated futures contracts.
Rig Karkhanis, Nomura’s global head for Asian markets outside of Japan, said in a statement:
“We also have the opportunity to trade Bitcoin futures and options on CME with Cumberland DRW this week, which marks the first digital asset trade for Nomura.”
This step of the bank came as the cryptocurrency market was going through an extremely volatile period. Just this week, the total value of the cryptocurrency market has decreased by 30%.
Last year, many of the banks started trading cryptocurrencies in line with the demands of their customers, but they did not enter the spot markets. Goldman Sachs, the first Wall Street bank to launch cryptocurrency futures trading, also announced that it used Bitcoin as collateral for dollar loans.
Paul Kremsky, head of relationship management at Cumberland DRW, said:
“Digital assets have gone from being a niche industry to a $1.5 trillion asset class. However, for many customers, there is still no viable path to enter this industry.”
*Not investment advice.