Menu
Banking Exchange Magazine Logo
Menu

Goldman Sachs Jumping Into Crypto

First large United States bank trading crypto by trading a non-deliverable option with merchant bank Galaxy Digital

  • |
  • Written by  Banking Exchange staff
Goldman Sachs Jumping Into Crypto

Goldman Sachs is the first large United States bank trading crypto by trading a non-deliverable option with merchant bank Galaxy Digital.

Up until recently, Crypto-currency has traded primarily on the retail side, but this is seen as a critical move towards institutional investor acceptance. The bank is now acting as a principal in the transactions as opposed to just exchange based transactions.

Believers in crypto-currency see this as a major step in its development as an asset class analogous to hedge fund investing. It implies banks may be ready to stand by the maturity of the investment product. The uptake will likely be by hedge funds seeking exposure, and only later by direct pension funds and foundations.

Goldman Sachs has claimed that clients are demanding access to digital assets, and opportunities to trade Crypto.

The head of Goldman Sachs’ crypto trading envisions the development of an options market as the next step.

back to top

Sections

About Us

Connect With Us

Resources

Webinar: Card Based Faster Payments in Today’s Digital Economy

Time/Date: June 28, 2022, at 2:00 ET

Consumers and businesses want instant gratification and the ability to move money in just minutes. From payroll to P2P to insurance benefits, demand is rising for instant disbursement. However, there are pain points in the current money movement ecosystem, and to address them, financial institutions need a payments strategy that addresses the dramatic rise in faster payments.

In this Banking Exchange hosted webinar on June 28, 2022, at 2:00 ET, Jaspreet Singh, Head of A2A/P2P Commercialization, Visa Direct at Visa Direct, and Al Griffin, Product Manager at Alacriti, discuss:

REGISTER NOW!

This webinar is brought to you by:
Alacriti logo