Wall Street banking giant Goldman Sachs has announced its first-ever lending facility that has been backed by Bitcoin.
The move is a significant step for the investment bank as Wall Street continues to embrace digital assets. According to a spokesperson for the bank, the secured lending facility loaned cash collateralized by BTC held by the borrower.
The deal was interesting to Goldman because of its structure and 24-hour risk management, they added according toThe arrangement allows crypto owners to receive fiat such as USD by using their crypto as collateral, but it is a first for the Wall Street bank.The move is another sign that big banks are embracing crypto and broadening their services to incorporate clients with digital asset investments.
its first-ever over-the-counter Bitcoin options in March, becoming the first major U.S. bank to do so, the report added.to add to that offering with OTC Ethereum options. Analysts at the bank have cited Ethereum’s upcoming ‘Merge’ and upgrade to proof-of-stake as being bullish for demand for the asset.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs offers bitcoin-backed loan: BloombergThe banking giant offered a lending facility with bitcoin as collateral, according to a report.
Read more »
Goldman Sachs Says It Is Exploring the Tokenization of Real Assets.GoldmanSachs is looking into the tokenization of real world assets as NFTs, Mathew McDermott, global head of digital assets at Goldman Sachs said. camomileshumba reports
Read more »
Nielsen Challenger ISpot Nets $325M Investment From Goldman SachsISpot.tv, a leading challenger to Nielsen for supremacy in the increasingly fraught TV and streaming ratings business, has received a $325 million investment from Goldman Sachs. Since its founding …
Read more »
Are Goldman Sachs shareholders patsies? Look to Thursday's vote on pay policiesOPINION: Carving out a slice from one of Goldman Sachs’ richest profit streams (but not, of course, sharing in losses) makes a mockery of the blather in the proxy statement about aligning pay with performance.
Read more »
Goldman Debuts Bitcoin-Backed LoanGoldman Sachs has extended its cryptocurrency push by offering a Bitcoin-backed loan
Read more »
Goldman Sachs offers bitcoin-backed loan: BloombergThe banking giant offered a lending facility with bitcoin as collateral, according to a report.
Read more »