5 Ways to Increase Acceptability of Cryptocurrency: From Skepticism to Mainstream Adoption
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2022-05-13 | Selina Mathew
Due to increasing demand, Japanese brokerage Nomura Holdings has begun issuing Bitcoin futures to its institutional clients. The announcement comes at a difficult moment for Bitcoin (BTC), which is now trading below $30,000.
Bitcoin non-deliverable futures and non-deliverable options settled in cash will be available from Nomura. As a result, its customers can begin trading Bitcoin futures and options on the open market.
According to Bloomberg, Nomura executed the first deal on CME Group Inc.'s platform earlier this week. Cumberland DRW LLC, a market maker, has also joined.
Nomura's Crypto Expansion
Nomura, a Japanese financial titan, announced its intentions to enter the crypto market earlier this year. On the same lines, "tapping resources within its Singapore-based foreign exchange" for worldwide crypto development.
The choice to enter global markets, on the other hand, occurs at a vital juncture. Over the previous 45 days, the crypto market has drained more than $300 billion from investors' accounts. As a result, governments throughout the world are expected to scrutinize cryptocurrency more closely.
The global macroeconomic environment, on the other hand, is not beneficial to cryptocurrency investors. To combat rising inflation, the Federal Reserve is expected to raise interest rates aggressively this year.
At the same time, if the US announces a second straight quarter of negative GDP, the odds of a recession are increased.
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