Goldman Sachs is planning to get into the business of trading digital currencies such as bitcoin, Bloomberg News reported Thursday, citing sources familiar with the matter. “In response to client interest in digital currencies, we are exploring how best to serve them,” a Goldman spokesperson said in a statement to CNBC about the report.
The new trading desk would “make markets” in the cryptocurrencies and is set to get up and running by the end of June, if not earlier, two of the sources said in the report. The bank is still trying to work out security issues on how it would hold the assets, which are notoriously volatile and prone to hacks, another source told Bloomberg.
In early October, news broke that Goldman Sachs was considering the launch of a new trading operation for bitcoin and other digital currencies. The investment bank is also one of the few major financial institutions offering some clients access to the new bitcoin futures that launched on the Cboe Futures Exchange and the CME this month.
Read the full Bloomberg story here. Read more from cnbc.com…
thumbnail courtesy of cnbc.com