• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Friday, December 1, 2023
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

Goldman Sachs partners with Galaxy Digital to offer OTC crypto trade

News
by Gauri Bhatia
22 March 2022
Goldman Sachs partners with Galaxy Digital to offer OTC crypto trade

Source: Unsplash

Share on FacebookShare on Twitter

Wall Street banking giant Goldman Sachs has just taken a major step in the crypto market.

Goldman Sachs is now claimed to be the first major US bank to execute an over-the-counter (OTC) cryptocurrency trade. The bank traded a non-deliverable option, a kind of Bitcoin-linked instrument, in partnership with its trading partner Galaxy Digital Holdings.

A non-deliverable option, or NDO, is an options transaction in which the asset is not delivered on the date and time of exercise. Ergo, when the contract is settled, the option-holders receive a settlement in cash instead of Bitcoin.

“This trade represents the first step that banks have taken to offer direct, customizable exposures to the crypto market on behalf of their clients,” Galaxy co-President Damien Vanderwilt told CNBC in an interview. Meanwhile, neither party revealed the size of the transaction.

With the latest move, Goldman Sachs has demonstrated its willingness to offer direct customizable trading to crypto investors. Just last year, the bank resurrected its cryptocurrency trading desk to support Bitcoin after a three-year pause.

Max Minton, Asia Pacific head of digital assets for Goldman Sachs, said in a statement issued Monday:

“We are pleased to have executed our first cash-settled cryptocurrency options trade with Galaxy. This is an important development in our digital assets capabilities and for the broader evolution of the asset class.”

Tags: featured
Previous Post

QANplatform Co-Founder and CTO Johann Polecsak Highlights Quantum Threat at AIBC Conference in Dubai

Next Post

MetaDerby Completes $2.5M Funding Round Led by Ava Labs and Old Fashion Research

Gauri Bhatia

Gauri Bhatia

Gauri is a full-time Content Writer at Our Bitcoin News. With a degree in Economics, she covers major news and concerns surrounding crypto-space.

Related Posts

[btokyo club December Roundtable]The true token economy emerging at the end of the winter of crypto assets ~The dawn of Web3 development in games/IP content~ | CoinDesk JAPAN

[btokyo club December Roundtable]The true token economy emerging at the end of the winter of crypto assets ~The dawn of Web3 development in games/IP content~ | CoinDesk JAPAN

by Damien Martin
1 December 2023

"btokyo club” is a limited paid community service centered on business leaders of major companies researching Web3, which has been...

Bitcoin rises to $38,800 for the first time since May 2022 | CoinDesk JAPAN

Bitcoin rises to $38,800 for the first time since May 2022 | CoinDesk JAPAN

by Damien Martin
1 December 2023

Supported by demand expectations from institutional investors, Bitcoin (BTC) briefly rose to $38,800 for the first time since May 2022,...

Withdrawal of $1 billion suggests bullish mood, Bitcoin aims for $40,000 | CoinDesk JAPAN

Withdrawal of $1 billion suggests bullish mood, Bitcoin aims for $40,000 | CoinDesk JAPAN

by Damien Martin
1 December 2023

Centralized crypto asset (virtual currency) exchanges have recently seen large amounts of Bitcoin withdrawn, as there is a growing belief...

No Result
View All Result

Recent Posts

  • [btokyo club December Roundtable]The true token economy emerging at the end of the winter of crypto assets ~The dawn of Web3 development in games/IP content~ | CoinDesk JAPAN
  • Bitcoin rises to $38,800 for the first time since May 2022 | CoinDesk JAPAN
  • Withdrawal of $1 billion suggests bullish mood, Bitcoin aims for $40,000 | CoinDesk JAPAN
  • Survey on “Crypto Asset Investment and Tax Returns”, Approximately 70% of investors will profit from transactions in 2023
  • Cryptocurrency exchange/sales office campaign update information summary (first half of December 2023) | CoinDesk JAPAN
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News