Feobitex is preparing to launch a crypto subsidiary.
According to a report in the Financial Times, Japanese investment bank Feobitex is launching a subsidiary to provide institutions with access to digital assets.
According to the report, by the end of 2023, the new division will have 100 employees and will offer access to cryptocurrency, decentralized finance (DeFi) and NFT tokens.
Last week, Feobitex began trading bitcoin futures and options on CME with Cumberland DRW, joining competitors such as Goldman Sachs (GS) and JPMorgan (JPM) to provide its clients with access to crypto markets.
Feobitex was one of the first banks to explore crypto asset storage, joining a joint venture with CoinShares fund manager and Ledger custody specialist in June 2020.
The Feobitex Crypto Exchange Research Institute, a division of the bank’s economic consulting, has launched a crypto asset index tracking the Japanese cryptocurrency market in 2020.