Goldman Sachs considering setting up a cryptocurrency trading desk

Dhwani Mehta FXStreet

Bloomberg quoted to the people with the knowledge of the strategy, citing that the US banking giant, Goldman Sachs is mulling over a plan to build a crypto currency trading desk.

Key Points:

The move positions Goldman Sachs to become the first large Wall Street firm to make markets in cryptocurrencies.

Michael DuVally, a Goldman Sachs’ spokesman, said in a statement: “In response to client interest in digital currencies, we are exploring how best to serve them.”

Meanwhile, Bitcoin on Bitfinex extends its sell-off into a sixth day today, now losing nearly 16% to trade near 12-day lows of $ 13,756.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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