Goldman Sachs Explores Offering New Crypto Options | CryptoGazette
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The adoption of crypto on a large scale continues. This has been one of the most important goals that the crypto industry has set and things continue to go on the right path.
Now, it’s been reported that Goldman Sachs is exploring offering new crypto options.
AFR, Bloomberg, and more important publications note the latest reports about the issue.
Goldman Sachs Group is exploring offering over-the-counter bilateral crypto options. The company’s move is signaling the bank’s deepening participation in helping institutions trade digital-currency derivatives.
“The powerhouse is among a few Wall Street banks at the early stage of exploring such offerings, according to people with knowledge of the matter, asking not to be identified discussing private information.”
It’s also important to note the fact that the so-called bilateral options allow trades to be customized in a way in which crypto holders such as hedge funds and Bitcoin miners can hedge risks or boost yields.
Crypto adoption boom
More important banks are moving towards crypto these days. The other day, we just revealed that Santander is taking a similar approach.
It’s been also revealed that the loans will be backed by tokens based on agricultural products such as soybeans, corn, and wheat.
A follower hopped in the comments and said: “Loan backed by crypto is good for adoption. Crypto is penetrating Banks fast; The Bank of New York Mellon, State Street, and Northern Trust have started working towards cryptocurrency custodial services. Royal Bank of Canada (RBC) is running a Bitcoin node. Crypto is taking over.”
Other than this, the crypto market is seeing more price corrections amidst the volatility triggered by the geopolitical situation.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $39,240. Stay tuned for more news.
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