Goldman Sachs to Release a Bitcoin Trading Desk
Goldman Sachs is going to release a Bitcoin trading desk, according to the bank’s statement made on Wednesday.
According to New York Times, the giant bank based in the United States began designing the new crypto platform. The financial institution plans to use its own resources and further to support numerous Bitcoin-based startups.
Rumors about the Goldman Sachs’ crypto project have been circulated since December 2017. However, directors have confirmed that reports were false.
Today, it’s certain that the American bank will offer its clients Bitcoin futures contracts. We would like to remind you that Goldman CEO Lloyd Blankfein has characterized Bitcoin in November 2017 as a “vehicle to perpetrate a fraud“.
“I would not describe myself as a true believer who wakes up thinking Bitcoin will take over the world. For almost every person involved, there has been personal skepticism brought to the table,” stated the Goldman executive, Rana Yared.
Goldman Sachs will become the first US bank to reinvest its own resources and trade them within a Bitcoin desk. The bank has already received positive opinions from several speculative funds, but also investors.
“It resonates with us when a client says, ‘I want to hold Bitcoin or Bitcoin futures because I think it is an alternate store of value,” added Yared.
In the following weeks, the financial institution hopes to receive the Federal Reserve’s approval and start trading Bitcoins.