Japanese investment banking firm Nomura has begun trading cryptocurrency derivative contracts.
The firm launched over-the-counter cryptocurrency derivatives with bitcoin non-deliverable forwards and non-deliverable options.
“Options enable investors to trade volatility directly and protect against downside risks,” said Rig Karkhanis, the bank’s head of global markets for Asia ex-Japan in a statement.
The trades were conducted on the CME by crypto asset trading firm Cumberland DRW for Asian clients out of Singapore.
Nomura is the newest addition to the list of traditional banking firms offering crypto derivatives. Only a month ago, global investment banking giant Goldman Sachs announced plans to offer over-the-counter ETH options trading.
The banking giant also facilitated its first Bitcoin-backed loan a few days ago to the cryptocurrency exchange platform, Coinbase Global.
