Goldman Sachs Confirms It Granted a Loan provider a Bitcoin-backed Loan

Source: AdobeStock / Yurii Kibalnik


The American investment banking heavyweight Goldman Sachs grants a person a money loan supported by bitcoin (BTC).

Bloomberg reported that Goldman Sachs had confirmed it had given money in an offer which was “collateralized by bitcoin of the customer,” per “a spokeswoman for that bank.”

The spokeswoman mentioned the deal “was interesting to” the financial institution “because of their structure and 24-hour risk management,” as the media outlet known as the borrowed funds “a significant step for any major U . s . States bank that accelerates Wall Street’s embrace of cryptocurrencies.”

Further information on the borrowed funds – like the borrower’s identity and also the amount involved – weren’t published.

However, in recent several weeks, Goldman Sachs has walked up its crypto adoption plans. Recently, reports claimed the firm was “close to announcing” that it was subsequently the very first major bank in the united states to provide over-the-counter (OTC) crypto transaction-related services.

Then, earlier in April, the firm expanded its OTC crypto options buying and selling choices to options contracts according to ethereum (ETH).

A week ago, reported the bank might even be eyeing a partnership deal that could involve among the U . s . States’ largest crypto exchanges. A personal meeting apparently required place involving its leadership and the FTX Founder and Chief executive officer Mike Bankman-Fried. 

The meeting, that was apparently attended by Goldman Sachs’ Chief executive officer David Solomon, allegedly centered on the problem of whether Goldman could recommend future funding models for FTX, in addition to a potential public listing for that exchange.

The financial institution seems to possess pivoted toward large-cap cryptoassets and business involving these, a departure from the previous stance on digital coins. Most particularly, the organization had formerly spoken in the issuance of their own stablecoin. But in The month of january this season, the organization recommended it now didn’t have immediate aim of launching a Goldman Sachs gold coin.


Find out more: 
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Goldman Sachs Performed Cash-Settled Bitcoin Options Trade – Reports

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Goldman Sachs Leaves Russia, Apparently Set to improve Crypto Focus

Goldman Sachs Claims Adoption Won’t Boost Crypto Prices, Talks Lower Stablecoin Plans
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