Milestone for Goldman Sachs: Trading Partnership with Galaxy Digital

From May 19, 2010, we have seen the logo of Goldman Sachs on the floor of the New York Stock Exchange. Since then, the firm has pocketed many deals, created many milestones, and gained accolades and awards. It has pushed the market boundaries when it comes to digital assets.

Now, it will soon announce that they are the first US financial firm to perform over-the-counter cryptocurrency transactions. They have traded a non-deliverable option (Bitcoin-based) with another merchant Bank Galaxy Digital.

This is a giant step for the crypto community, especially the institutional investors. This is a risky move, compared to what the company was doing previously. This will ensure that banks offer a personalized crypto experience to users from now on, according to Galaxy Digital executive Vanderwilt. He further stated that this shows that the banks are willing to risk it by trusting cryptocurrencies.

Through this measure, hedge funds will be benefitted the most, along with their users. The market is currently controlled by Galaxy, Genesis, and GSR markets, all of them are somehow associated with digital currencies.

This is in response to what customers were demanding from the company, global head Goldman Sachs, Andrei Kazantsev mentioned. The next move will be to work on developing the options market.