Goldman Sachs considers crypto derivatives, according to the Chief Operating Officer of Goldman Sachs, David Solomon. The company is “cautiously” looking into some of the other activities in this sector.
21 June, AtoZ Markets – One of the US banking giants, Goldman Sachs, is reportedly looking into the cryptocurrency trading derivatives. The Chief Operating Officer of Goldman Sachs, David Solomon, has confirmed that earlier this week.
Goldman Sachs Considers Crypto Derivatives
Goldman Sachs COO David Solomon has stated that the company is already providing the assistance to the clients in some of the publicly-traded derivatives such as Bitcoin futures. In addition, the company is “very cautiously” considering some of the other activities in this sector.
As per the banking official, the key purpose of the company is to “evolve its business and adapt to the environment” in relation to cryptocurrencies. He has explained:
“We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too.”
Moreover, the CEO of Goldman Sachs Lloyd Blankfein has reiterated his positive position on cryptocurrencies. He has noted that the adoption of cryptocurrency like Bitcoin could happen in the same way as the adoption of paper fiat money happened.
Goldman Sachs Crypto Stance
The position of Goldman Sachs in regards to the cryptocurrency market has changed when the digital assets have gained more popularity. Back in 2014, the bank has stated that Bitcoin cannot be classified as a currency. However, three years later Goldman Sachs argued that BTC it is difficult for institutional investors to ignore Bitcoin and other altcoins.
In December 2017, there were even rumors that Goldman Sachs is planning to open its own crypto trading desk. However, the banking group has denied the talks. Nevertheless, its stance towards the crypto market has softened a lot. Back in May, the first has stated that cryptocurrency is “not fraud” and shared some plans to commence trading in digital currencies.
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