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Blockchain & Cryptocurrency

Goldman Sachs is Considering Expanding Crypto Trades Beyond Futures

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Goldman Sachs Group Inc., one of the biggest U.S. investment banks, is exploring cryptocurrency trades beyond the publicly-traded derivatives that it already handles, according to Chief Operating Officer David Solomon.

“We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously,” said Solomon in an interview with Bloomberg TV in China. “We’re listening to our clients and trying to help our clients as they’re exploring those things too.”

Goldman Sachs must “evolve its business and adapt to the environment,” he said in response to a question about digital currencies.

The firm is setting up a trading desk to make markets in the products and aims to have the business running by the end of this month, people with knowledge of the strategy said in December.

Originally via Bloomberg

Goldman Sachs Group Inc., one of the biggest U.S. investment banks, is exploring cryptocurrency trades beyond the publicly-traded derivatives that it already handles, according to Chief Operating Officer David Solomon.

See the original article at https://www.bloomberg.com/news/articles/2018-06-20/goldman-sachs-mulling-crypto-trades-beyond-futures-solomon-says

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