Chris Hondros/Getty Images
- Goldman Sachs is building a cryptocurrency trading desk, according to reporting by Bloomberg News.
- The bank is preparing for a June launch, Bloomberg reported.
Goldman Sachs is reportedly gearing up to dive into the market for digital currencies.
Bloomberg News reported Thursday that the investment bank was preparing a cryptocurrency trading desk to trade digital currencies like bitcoin.
The red-hot digital currency has soared as much as 1,700% this year, hitting above $19,000 on some exchanges.
“The bank aims to get the business running by the end of June, if not earlier,” Bloomberg reported, citing people familiar with the situation.
The trading desk would likely be located within the bank’s FICC unit, according to the Bloomberg report.
The news is striking considering CEO Lloyd Blankfein told Bloomberg in November it was too soon for the bank to think up a strategy.
If Goldman follows through on the plan, it would become the first major Wall Street bank to trade in the nascent, and volatile, cryptocurrency market.
Press representatives for the bank did not respond immediately for comment.
Get the latest Bitcoin price here.>>
EXCLUSIVE FREE REPORT:The Bitcoin 101 Report by the BI Intelligence Research Team.
Get the Report Now »
Leave a Reply
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
