In 1980, John Deacon wrote “Another One Bites the Dust”, which is, to date, the number one song that comes to mind when I read that yet another crypto-sceptic big bank finally gives in to customer pressure and starts offering Cryptocurrency services.
According to an internal memo, GS is the first Wall Street Bank to venture into cryptocurrency trading. A dedicated team has been formed, for “currency and emerging market trading”, led by Rajesh Venkataramani. To clarify, the bank will not be buying cryptocurrency, but trading derivatives based on Bitcoin.
Additionally, a digital assets dashboard will be provided, allowing GS clients with daily and intra-day data and information on the crypto market.