Banking giant Goldman Sachs has partnered with Galaxy Digital for CME Group’s Bitcoin futures. According to a CNBC report, Mike Novogratz’s cryptocurrency company will act as the bank’s liquidity provider.
As we reported earlier, the bank relaunched its cryptocurrency trading desk in March. Earlier this month, it announced that it would expand the service with Ethereum trading. Max Minton, the bank’s head of digital assets for Asia-Pacific, says the institution is responding to customer demand:
It is worth noting that Novogratz started his career at Goldman Sachs in 1989. This makes such a partnership a logical step for the billionaire.
Not everyone at Goldman is open-minded about Bitcoin, though. The private wealth management arm recently published a research note concluding that cryptocurrencies are not a viable investment.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.