Nomura offers its first bitcoin derivatives, just as crypto markets tumble – Reuters

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Nomura offers its first bitcoin derivatives, just as crypto markets tumble – Reuters

HONG KONG, May 13 (Reuters) - Nomura (8604.T) has begun offering bitcoin over-the-counter derivatives to clients, it said Friday, the latest move by a traditional financial institution into the cryptocurrency industry, even as markets are in turmoil.

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

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

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