Goldman Sachs Conducts First Over-the-Counter Crypto Trade With Galaxy

2 years ago

Goldman Sachs, the Wall Street heavyweight, completed an over-the-counter cryptocurrency-related commercialized with the digital-asset fiscal institution Galaxy Digital, successful a transaction that the firms are characterizing arsenic a first.

The New York-based Galaxy disclosed the commercialized successful a press release connected Monday. The transaction was described successful the connection arsenic a bitcoin (BTC) non-deliverable option, a benignant of cash-settled cryptocurrency options trade.
"This marks the archetypal OTC crypto transaction by a large slope successful the U.S. arsenic Goldman Sachs continues expanding its cryptocurrency offerings, demonstrating the continued maturation and adoption of integer assets by banking institutions," Galaxy said.
The woody represents the continuation of Galaxy's narration with Goldman Sachs, according to the statement.
In March of past year, CoinDesk reported that Goldman Sachs reopened its crypto trading table aft a three-year hiatus, nether increasing request from organization clients.
Last June, Galaxy announced that it would service arsenic Goldman's liquidity supplier for bitcoin futures artifact trades connected the CME exchange.
Earlier this month, CoinDesk reported that Goldman was offering funny clients entree to an ether (ETH) money issued by Galaxy. Galaxy laminitis and CEO Michael Novogratz worked astatine Goldman for 11 years, according to a bio connected his company's website.

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Bradley Keoun is the managing exertion of CoinDesk's Markets team. He owns BTC supra CoinDesk's disclosure threshold of $1,000.

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