Japanese financial services company Nomura Holdings Inc 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 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 BTC/USD, Ethereum ETH/USD and Terra LUNA/USD 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.