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May, 2022

Goldman Sachs Issued Loan with Bitcoin Under Collateral

Goldman Sachs, one of the largest investment bans in the world, approved a cash loan, where Bitcoin were used as a collateral.


This shows that big players have been interested and accept alternative assets for using in their daily operations.


“Our challenge is the structure for this product and the continuous risk management, 365 days per year, 7 days per week, 24 hours per day, needed for such a product”, a Goldman Sachs representative stated.


Goldman Sachs’ team around Digital Assets has grown enough while last month, it made its first transactions in Bitcoin options through Galaxy Digital.


Goldman Sachs wasn’t the first that tries new actions in cryptos. Apollo Global Management hired Christine Moy, ex-executive in JP Morgan, to run the Digital Assets Department while BlackRock participated in Circle’s funding for USDC.