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Goldman plans cryptocurrency trading desk

The bank aims to get the business running by the end of June

Bloomberg 

Goldman Sachs
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange in New York (Photo: Reuters)

Group is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with the knowledge of the strategy. The aims to get the business running by the end of June, if not earlier, two of the people said. Another said it’s still trying to work out security issues as well as how it would hold, or custody, the assets. The move positions to become the first large Wall Street firm to make markets in cryptocurrencies, whose wild price swings and surging values have captured the public’s imagination but given pause to established institutions. The is among a few mainstream firms clearing a new breed of bitcoin futures offered by and and of America , for example, have been taking a wait-and-see approach. Already, the is among just a few mainstream firms clearing a new breed of bitcoin futures offered by and and of America , for example, have been taking a wait-and-see approach.

First Published: Sat, December 23 2017. 02:34 IST
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