Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: kienthuctienao on March 24, 2022, 10:11:54 AM
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The Goldman Sachs Group Inc. (GS) executed its first over-the-counter (OTC) crypto trade through its trading partner Galaxy Digital Holdings Ltd. (GLXY) This is the first such transaction by a major U.S. bank.
The Bitcoin (BTC) trade executed by Goldman is a non-deliverable option (NDO), also known as a cash-settled option. This means that when the option is settled, instead of receiving Bitcoin, the option-holder is given its cash value. Goldman's transaction marks a departure from the company's earlier digital trades for the derivatives marketplace CME Group and indicates its willingness to assume the added risk that comes with an OTC trade.
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With the expanding and bright future ahead for the cryptocurrency market, there is now no question that many Wall Street entities are looking at ways they can manage to wallet a good amount of profits from the industry. And Goldman Sachs has the intention of leading the way and possibly even dominate this space in years to come. So we can see that the giants have now awaken and they can muster their financial muscles to make sure they stay on the top of this game. This is really interesting to watch as this is not going to be the last legal financial institution to do so.