Nomura starts offering bitcoin derivatives

Japanese investment bank Nomura now offers bitcoin over-the-counter derivatives to clients.

Nomura became the latest traditional financial institution to enter the cryptocurrency industry.

The trades were executed on the CME by crypto asset trading firm Cumberland DRW this week.

The trades were Nomura’s first digital asset trades, its head of markets, Asia ex-Japan, Rig Karkhanis, said in a statement.

Many global investment banks are seeing demand from institutional investors and private clients for access to crypto related faces.

However, crypto markets have tumbled this week as a meltdown in TerraUSD, one of the world’s largest stablecoins, sent digital tokens into meltdown.

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