Goldman Sachs became the first biggest US bank to execute OTC crypto transaction
Recent moves by Goldman Sachs and Galaxy Digital confirmed that crypto is here to stay in the form of better level adoption, where low liquidity questions will not remain part of crypto discussion.
The Goldman Sachs Group, Inc. is a traditional global investment banking, securities, and investment management company. Right now Goldman Sachs has its hand in almost every financial-related service. In short, we can say Goldman Sachs is a giant in the financial services industry.
Just a couple of days ago, Goldman Sachs and Galaxy Digital release announcement to inform the industry about their efforts in crypto-related activities. The released announcement noted that Goldman Sachs facilitated its first-ever OTC crypto transaction in association with the trading unit of Galaxy Digital, a cryptocurrency investment & management firm.
The head of digital assets at Goldman Sachs in the Asia Pacific, Max Minton, said through the released announcement that such activities are a sign of the moves of Goldman Sachs toward crypto-related engagement & potential capacity.
“We are pleased to have executed our first cash-settled cryptocurrency options trade with Galaxy….()….marks an important milestone in Goldman Sachs’ digital assets capabilities as well as for the “broader evolution of the asset class.”
This partnership of Goldman Sachs and Galaxy Digital is hinting that Goldman Sachs is currently focusing on increasing its partnership with Galaxy Digital to increase & improve its crypto-related capabilities.
Earlier, in June of last year, Galaxy Digital launched its Bitcoin futures trading product to its CME Group. However, here such moves of Goldman Sachs are showing that Banking giants want to dive more into the underlying technology of Crypto and liquidity of the crypto market but here we should not consider that Goldman Sachs was far from the crypto industry.
The data are clearly showing, according to US securities and exchange commission (SEC) filings, that Goodman Sachs provides Ethereum investment to its clients with the use of the Ethereum Fund of Galaxy Digital.
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