Goldman Sachs is Launching a Cryptocurrency Trading Platform
December 22, 2017
One of the most leading investment banking in the world, Goldman Sachs is planning to join the business of trading virtual cryptocurrencies through creating its own cryptocurrency trading platform.
"In response to client interest in cryptocurrencies, we are exploring how best to meet their needs," the bank's spokesperson said.
The new trading desk would create cryptocurrency markets, and its launch is planned for June 2018, although an earlier start is also not ruled out, as two of the sources said in the report.
At the moment Goldman Sachs is working out security issues of its trading platform. In particular, the bank is thinking over a way of holding cryptocurrency assets that are liable to high volatility and hacks, the source inforned.
As it was mentioned, Goldman Sachs is one of the most active investment banking in the field of cryptocurrency. The first reports that the bank can deal with the cryptocurrency trading appeared in October. Earlier this month, there was information that the Bank is considering the possibility of providing their services to the clients of clearing Bitcoin futures traded on the stock exchanges of financial derivatives CBOE and CME.
It is also worth noting that the bank’s headman, Lloyd Blankfein, unlike most of his colleagues, is not a sweeping critic of the cryptocurrency and even declared that he is open to Bitcoin's idea.
As a result, this information proves the fact that Bitcoin and other cryptocurrencies can become a full-fledged participant of the global financial market.