Goldman Sachs Bitcoin Trading Desk

The ultimate decision to begin trading bitcoin contracts went to the top of the company where it was approved by the goldman sachs board of directors.

Goldman sachs bitcoin trading desk. Its historical statements about crypto reports on the exploration of a btc trading desk and. Taking the stage at the techcrunch disrupt conference in san francisco chavez looked to clear the controversy surrounding recent news that goldman sachs is postponing its launch of a bitcoin trading desk. Don t call goldman sachs s long awaited bitcoin trading business a full fledged desk. According to a report by bloomberg goldman sachs are planning to set up a trading desk dealing for digital currencies three unnamed sources provided details to the publication about the proposal.

Goldman sachs never planned to launch btc trading desk. Goldman sachs group inc. Another said it s still trying to work out security issues as well as how it would hold or custody the assets. A top goldman sachs executive looked to clear the air thursday about the bank s cryptocurrency ambitions after reports that it was abandoning plans to open a trading desk for cryptocurrencies.

But goldman sachs perhaps the most storied name in finance is bucking the risks and moving ahead with plans to set up what appears to be the first bitcoin trading operation at a wall street bank. The first hints of goldman sachs entering the cryptocurrency industry came two weeks ago when the company hired justin schmidt as their first digital asset trader. The bank aims to get the business running by the end of june if not earlier two of the people said. Apparently the bank is hoping to have the platform up and running by summer 2018 at the latest with efforts being made to ensure it s delivered sooner.

The investment bank thinks the regulatory landscape for trading bitcoin remains. Goldman sachs planned to open a trading desk for bitcoin and cryptocurrencies but is backing off from those plans.