Goldman Sachs Enters the World of Bitcoin Lending...

Goldman Sachs cryptocurrency bitcoin loan

Goldman Sachs Group Inc. announced its first-ever Bitcoin-backed lending facility, marking a significant step forward for a major American bank while advancing Wall Street's embrace of cryptocurrencies.

According to a bank representative, the secured lending facility lent cash with the borrower's Bitcoin as security. The acquisition piqued Goldman's interest because of its structure and round-the-clock risk management, she wrote in an email.

After years of reluctance, Wall Street banks are boosting up their crypto offerings...

Goldman, which began trading over-the-counter Bitcoin options in March and has a digital-assets division, has taken a move into a new business area that is now dominated by crypto businesses.

Author: Stephen Maddock
Ontario Newsroom | Crypto Loan News