• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Goldman Sachs

Goldman Sachs Considers Offering Cryptocurrency Custody Services

Ricardo Esteves by Ricardo Esteves
4 years ago
in Cryptocurrency Technology, Derivatives
Reading Time: 2 mins read
Advertisement

New York-based multinational investment bank Goldman Sachs is making another step forward in its bet on the cryptocurrency market. The firm, led by chairman and CEO Lloyd Blankfein, is reportedly considering a plan to offer custody for cryptocurrency funds. A large and credible institutional player becoming a custodian could be the news the crypto industry in the United States was waiting for.

Goldman Sachs Becoming Custodian of Cryptocurrency Could Be a ‘Game Changer’

Custody services of cryptocurrencies are a game changer for the market within the institutional scope. San Francisco-based virtual currency exchange Coinbase, the largest operator in the United States with over 13 million users (data of November 2017) and $1 billion in revenue, was the first to offer custody services to institutional clients, which means the company holds securities on behalf of the funds, hence reducing risk for customers.

While being a giant among its cryptocurrency peers, Coinbase is still a young company and fully invested in one single and volatile asset class. Goldman Sachs, on the other hand, has a long history of success in investment banking and is one of the most powerful influencers in capital markets. The entry of Goldman Sachs in the cryptocurrency market as a custodian could make a significant impact on the ecosystem as institutional players would most likely lower their concerns about losing their funds to hackers. The initiative might also move prime brokerage services providers into the digital asset class.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

“In response to client interest in various digital products we are exploring how best to serve them in this space, At this point, we have not reached a conclusion on the scope of our digital asset offering”, a spokesperson for Goldman Sachs told Bloomberg.

The investment bank has been regularly on the news for its efforts to dive into the cryptocurrency market by creating “its own, more flexible version of a future, known as a non-deliverable forward, which it will offer to clients”.

Ari Paul, the co-founder of BlockTower, said the lack of trusted custodianship and a suite of institutional cryptocurrency products was the last barrier preventing institutional investors from entering the cryptocurrency market. Goldman Sachs’ entry as a custodian might be the much-needed push for the capital markets industry.

The Bloomberg report also added that at least three large Wall Street custodians are developing or exploring cryptocurrency custody services: Bank of New York Mellon Corp., JPMorgan Chase & Co., and Northern Trust Corp.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

 

Image from Shutterstock
Tags: Bitcoin custodycryptocurrency custodycryptocurrency marketcustody servicesgoldman custodyGoldman sachsgoldman sachs custodyInstitutional adoptioninstitutional market
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Ricardo Esteves

Ricardo Esteves

Related Posts

Cardano

Cardano Drops To Lowest Level In Last 7 Days – ADA Bracing For Further Decline?

4 months ago
Bitcoin price

Bitcoin Price Has Strong Potential To Hit $25,000, Weekly Analysis Suggests

5 months ago
sats, Bitcoin Bounce screenshot

Lightning Speed: 5 Ways To Make Money/ Earn Sats Using The Lightning Network

5 months ago
CME - SALE sign

Bitcoin CME Front-Month Futures Reach Deepest Discount Ever Recorded

5 months ago
Intel old school chip

Intel Doubles Down On Chips, Enters $30 Billion Deal To Build New Factory

5 months ago
Stepn

Stepn GST Token Slides 97% – Despite Fitness App Having 3M Users

7 months ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom (FTM) founder makes announcement as they complete 100% rally, Solana (SOL) development updates & Why investors are flocking to Snowfall Protocol (SNW)

January 29, 2023

Dogecoin (DOGE) and Axie Infinity (AXS) Don’t Offer The Same 1000x Potential As Snowfall Protocol (SNW) According To Market Analysts

January 29, 2023

Crypto Market News Live: Aptos Soars Another 60% This Week in A Continued Price Rally, PancakeSwap Burns $100m Worth Of CAKE, Snowfall Set to Moon After Exceptionally Successful Presale Campaign

January 29, 2023

BudBlockz’s 220% Growth Puts It Ahead of Dogelon Mars and Floki Inu

January 28, 2023

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.