Nomura starts trading on crypto derivatives

Nomura starts trading on crypto derivatives

Nomura has begun offering clients over-the-counter derivatives, the latest move by a traditional financial institution into the criptocurrency industry, even though markets are in turmoil.

The trades executed by the CME by Cumberland DRW this week were the first digital asset trades by the Japanese investment bank, said Nomura's head of markets, Asia ex-Japan, Rig Karkhanis.

He said that by working with institutional-grade counterparties, we'll be able to scale into the increasing demand from our clients.

Many global investment banks are looking to give clients more services related to cryptanalym, responding to demand from institutional investors and private clients for access to what had been a fast growing sector.

The meltdown in TerraUSD, one of the world's largest stable coins, has sent digital token into a meltdown, as a result of the sell-off of riskier assets.

On Thursday, the price of virtual currency hit a 16 month low of around $25,400.