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Nomura Launching Benchmark for Japan’s Crypto Assets

Paddy Baker
·2 min read

Nomura Research Institute (NRI) will launch a benchmark rank and compare Japanese cryptocurrency assets on Friday.

The Tokyo-based management consultancy and research firm said the “NRI/IU Crypto-Asset Index Family” – created in coordination with Intelligence Unit LLC (IU) – will be available through NRI’s financial information database, IDS, to domestic and overseas institutional investors, financial information vendors and crypto exchanges.

Related: Ex-CFTC Chair Christopher Giancarlo on Why He Launched Digital Dollar Project

The benchmark is intended to pull together information specific to the Japanese cryptocurrency market, including data on crypto-yen pairs and closing values, all in local time.

A benchmark index is a standard allowing traders to evaluate the performance of their portfolio or of a particular asset against the broader market.

“The increasing investment needs for crypto assets have, in turn, led to a high demand for a benchmark to appraise those investments,” the company said in a release.

The NRI/IU benchmark will support bitcoin, ether, litecoin, bitcoin cash and XRP. It is calculated using the MVIS index platform, with cryptocurrency data supplied by CryptoCompare.

Related: Decred’s Akin Sawyerr Says Blockchain Is Part of Africa’s Political Future

“Strong demand from institutional investors is contributing to the growth of crypto-asset funds, and well-diversified products like index funds are attractive as alternative investments,” said Akihiro Niimi, IU CEO, in a statement. “We will bridge the traditional financial world and the crypto-asset world by providing institutional grade crypto-asset benchmarks, further establishing the status of crypto-assets as alternative investments.”

In September, CF Benchmarks became the first cryptocurrency index provider to be licensed in Europe after the U.K.’s financial watchdog gave it a BenchMark Administrator (EU BMR) license, allowing institutions to use its indices in any European financial products.

Nasdaq launched an AI-powered index of the top-100 best performing cryptocurrencies for Wall Street traders in October.

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