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Japan's Nomura Launches Its First Bitcoin Derives Amid Crypto Crash

Published 13/05/2022, 12:16
© Reuters.  Japan's Nomura Launches Its First Bitcoin Derives Amid Crypto Crash
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Japanese financial services company Nomura Holdings Inc (NYSE: NMR) has started offering Bitcoin derivatives to its institutional clients due to high demand.

What Happened: Nomura's head of markets, Asia ex-Japan, Rig Karkhanis in a statement said the Japanese investment bank carried out the first trade earlier this week on CME Group Inc.’s (NASDAQ: NASDAQ:CME) platform, according to Reuters.

"Working with institutional-grade counterparties will allow us to scale into the increasing demand from our clients," he said.

The decision comes at a time when the cryptocurrencies such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Terra (CRYPTO: LUNA) are under immense selling pressure.

Price Action: According to data from Benzinga Pro, Bitcoin traded at $30,688.34, up 13.6% in the last 24 hours at the time of writing.

Read Next: Terra 'Officially' Halts Blockchain As LUNA Hits Zero

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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