[ad_1]
One of the best known investment banks in the world is planning to launch a custody service to store bitcoins for investment funds that want to hold cryptocurrency.
Goldman Sachs May Custody Cryptocurrencies
anonymous sources familiar with the matter, Bloomberg reports that Goldman Sachs, the second largest investment bank, is discussing becoming one of the first traditional financial institutions to hold assets of cryptocurrency.
This service would be a major advantage for cryptocurrency funds but it could also have far greater implications since it would eliminate a major obstacle by preventing institutional investors such as pensions and endowments from feeling comfortable adding cryptoassets to their portfolios.
Such custodial services exist, but were largely offered by the cryptocurrency startup as Coinbase – not the Wall Street giants with which the institutions pre
However, Goldman still has to publicly confirm that he is exploring a service of custody of cryptocurrency.
"In response to the customer's interest in various digital products we are exploring the best way to serve them in this space," the report quoted a spokesman for Goldman Sachs. "At this point we have not reached a conclusion on the scope of our digital resource offering."
In particular, this is the same line that Goldman spokespersons have given in response to previous reports that the company was launching a bitcoin trading counter, an answer has continued to publish even days before, in the last analysis, announcing that he had hired cryptocurrency merchant Justin Smith to run his digital asset division and help the company launch an encryption.
Wall Street warms to Bitcoin
the day after the Intercontinental Exchange (ICE) – owner and manager of the New York Stock Exchange (NYSE) – has revealed that it is launching a new branch, called Bakkt, to develop cryptocurrency products and services and help mature bitcoins as a financial tool. [19659005] Following its launch in November, Bakkt will offer a physically regulated bitcoin term product, which means buyers will receive an actual BTC when one day contracts are compared to cash, as in the case of bitcoin futures contracts. currently available on CME and CBOE.
Since the product will offer a physical regulation, ICE will have to directly entrust the bitcoin, probably making it the first company on Wall Street to offer this service to institutional buyers.
Close-up image of Shutterstock
Follow us on Telegram or subscribe to our newsletter here.
• Join the CCN Crypto community for $ 9.99 a month, click here
• Do you want exclusive analysis and in-depth analysis encrypted by Hacked.com? Click here.
• Open positions on CCN: sought-after full-time and part-time journalists.
