Goldman Sachs is creating a cryptocurrency department
Goldman Sachs Group is going to create a business unit for trading cryptocurrencies until the end of June. Now the bank deals with security problems and also decides how to register the storage of virtual assets.
Thus, Goldman Sachs can become the first major investment bank on Wall Street, which will enter the cryptocurrency market, which volatility has raised strong concerns among traditional investors.
Already, the bank is among a few leading companies that support Bitcoin futures trading on Cboe Global Markets and CME Group, while, for example, Citigroup and Bank of America decided to wait and watch the situation outside the cryptocurrency market.
Goldman Sachs opinion about cryptocurrencies has been very cautious until now. The CEO of Goldman Sachs, Lloyd Blankfein, said that it is too early to develop a strategy for investing in Bitcoin. At the same time, the first reports that the investment bank is studying the possibility of launching a new trading option aimed at Bitcoin and other cryptocurrencies appeared in early October 2017.
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