Financial services company Nomura has opened the trading of crypto derivatives contracts with bitcoin non-deliverable forwards and non-deliverable options in Singapore.
Source: Coindesk
BTCUSD is up +5.99%
The bank’s head of global markets for Asia ex-Japan, Rig Karkhanis, says that the firm has enabled capability for offering bitcoin futures and options trading expected in the week.
The announcement comes amid a market crash in the cryptocurrency space that saw the market capitalization tank about 30%, with the LUNA token plunging to zero.
Options are financial instruments that allow traders to protect against volatility. The cryptocurrency space has surged to become a $1.5 trillion market pushing banks to offer the service.
Nomura will become the first Japanese bank to venture into cryptocurrency custodial service in 2020. Komainu is the other bank that ventured into the service with CoinShare and custody specialist Ledger in June 2020.
The consulting division of the bank Nomura Research Institute unveiled a crypto-asset index for tracking the Japanese cryptocurrency space in 2020.
