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Bitcoin, Cryptocurrency, Goldman Sachs-While most of the world relies on pricing information surrounding the sharp fall in the value of Bitcoin and most crypto-currencies, Wall Street's megalith Goldman Sachs informs customers of their asset-safety stance. digital.
Despite the drop in prices over the past two weeks, a growing number of customers at the big bank are inquiring whether they can find a safe haven for their cryptographic assets. according to BloombergGoldman has made no progress with respect to the direct depository functionality for Bitcoin and Altcoin holders, the head of the bank, Digital Asset Market, Justin Schmidt, commented on the lack of availability during a conference in New York.
Schmidt, who gives a crude answer as to whether the bank is ready to store customers' digital assets, also highlights the current problem of understanding government regulations on cryptocurrency, a story that has been repeated as a constant barrier to broader institutional access,
"One of the things they ask me is," Can you keep our rooms? " "And I say," No, we can not, "one of the things we need to take into account when we develop our business is what we can and can not do from a regulatory perspective."
Although Goldman does not directly offer a customer's coin storage service, it has sought to penetrate this space, despite the dark legal landscape of cryptocurrency, by investing in the BitGo custody provider Holdings Inc. in October. In addition, Goldman was one of the first to clear the bitcoin futures offered by Cboe Global Markets Inc. and CME Group Inc., showing some propensity for the company to penetrate into the space of cryptocurrency, even with prices in their current spiral.
Although Goldman has not yet traded digital assets, rumors have emerged that the company is considering opening a trading table, which has attracted a lot of interest. contention last September.
Schmidt went on to explain that customers seemed to have asked the bank more to offer direct deposit services, especially with the level of complexity required for the average merchant to keep his private keys and create his coins in a safe place. safer space than most exchanges. currently offers. Part of the customer-side conversation has been about the falling price of cryptocurrency, and the prospect that now seems to be winding down as the asset reaches its lowest point of the year.
As some institutional players such as VanEck are still in the running for the creation of a Bitcoin Exchange Traded Fund, a renewal of the cryptography markets could impose on Goldman a greater demand to offer extended services to its clients. Schmidt quoted Bakkt and Fidelity's announcement last month to enter the cryptocurrency space as a positive development for the sector's investment sector. He also acknowledged that institutional investors were on the conservative side, which explains the growing murmur of lack of child care.
"The guard is this fundamental piece that is absolutely necessary. The guard is part of an integrated overall system in which different parts must work well with each other and safely, and you must be able to trust all the different parts of this chain, from the purchase to a transfer through the transfer. the long term."
Schmidt concluded with a statement of encouragement for crypto investors facing the recent stock market crash, claiming that the rapid valuation change would undermine some of the less desirable and widespread speculations in the sector,
"In many ways, widespread speculation that has been stifled over the past few months is really beneficial to the ecosystem and I can not wait to see companies providing institutional quality products and services."
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