Goldman Sachs, one of the world’s largest banks, has made its first trade in the OTC (over-the-counter) market. Galaxy Digital was a digital-assets firm that specializes in the financial services and trading of digital assets. The Wall-Street bank giant purchased an NDO from Galaxy Digital.

Multinational investment bank, is the first U.S. bank to access the OTC market for cryptocurrencies. It is an important milestone in relation to traditional and crypto banking.

Damien Vanderwilt (co-president, director global markets at Galaxy Digital) believes that trade will increase the bond between Galaxy Digital & the U.S. banks.

“This trade represents the first step that banks have taken to offer direct, customizable exposures to the crypto market on behalf of their clients,”
Vanderwilt spoke in an interview for CNBC.

Vanderwilt believes that their association with Goldman Sachs, NYSE: and the first OTC Bitcoin trade they made will encourage other banks to look at the stock exchange as a means to manage digital assets.

“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,”
Max Minton was the Asia Pacific Head of Digital Assets, Goldman Sachs.

EMAIL NEWSLETTER

You can also join the crypto-verse

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
It takes just one click to unsubscribe.

Continue reading on DailyCoin