Goldman Sachs Now Has a Crypto Department
The famous investment bank Goldman Sachs announced the launch of the crypto department. The new team will be focused on crypto derivatives trading and has already performed two successful deals with Bitcoin’s derivatives. The bank had it in plans since 2017, but managed to fulfill them only now.
Goldman Sachs, being a giant of the world currencies’ markets, tries to expand its presence on the crypto market too by the selective involvement of the trading companies to provide the liquidity. They also launched an informational platform where people can follow the rates of cryptocurrencies and the latest news about them.
They offer their customers to trade Bitcoin’s derivatives. These trades allow not to interact with the cryptocurrency directly. Goldman Sachs underlines that they don’t plan to trade the actual cryptocurrencies, only forwards and futures.