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The Silicon Review Asia

Cryptocurrency Investment Solution Provider Introducing A Tradable Cryptocurrency Index

Cryptocurrency Investment Solution Provider Introducing A Tradable Cryptocurrency Index

Major Japanese consulting firm Nomura Research Institute (NRI) will soon introduce a tradable cryptocurrency index in collaboration with Intelligence Unit (IU) of cryptocurrency investment solution provider. It is intended for use by financial institutions, and is named as NRI/IU Crypto-Asset Index. Data from the MVIS crypto index database and CryptoCompare, a global cryptocurrency data platform will be used by the index. The centralized repository illustrates that by tracking the larger cryptocurrencies, the index is intended to cover global crypto markets in US dollars and Japanese yen.

The efficiency of a crypto-asset basket that is predefined will be tracked by the Indexand will be tradable in yenanddollars on the NRI platform. The major constituents of the index are Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC),Ether (ETH), and XRP.

Akihiro Niimi stated that the growth of crypto-asset funds is mainly due to a strong demand from the institutional investors and well-diversified products like index funds are now becoming attractive as alternative investments.

The parent company of NRI – Nomura Holdings – provides several crypto-asset-related services and had already adopted blockchain technology. Famous Japanese messaging app, Line along with Nomura Holdings had signed a final capital partnership agreement which is based on blockchain technology in October 2019.

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