Goldman Sachs launched over-the-counter cryptocurrency trading

The bank has entered into a bitcoin-based non-deliverable option deal with Galaxy Digital

21.03.2022 - 15:30

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What’s new? The US investment bank Goldman Sachs has become the first major bank to make an over-the-counter cryptocurrency deal. The company representatives stated that the bank has entered into a bitcoin-based non-deliverable option deal with Galaxy Digital, CNBC reports.

Information on the CNBC website

What is the company’s attitude to cryptocurrencies? Goldman Sachs has previously traded bitcoin futures on the Chicago Mercantile Exchange (CME), but acting as a principal in over-the-counter transactions is fraught with great risk, the bank’s representatives said. Galaxy co-president Damien Vanderwilt added that Goldman Sachs’ decision to take on additional risk “implies their trust in crypto’s maturity.”

What is known about Goldman Sachs? It is an American investment bank and financial services company headquartered in New York. The organization offers investment management, securities, asset management, prime brokerage, and securities underwriting services. A crypto trading desk has been established at the bank.

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