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Goldman Sachs to Offer Trading in Bitcoin

In a move that will likely boost cryptocurrency a bit more into the mainstream, Goldman Sachs is planning to begin using its own funds to trade with clients in a variety of contracts connected to Bitcoin.

Goldman Sachs says it will not be purchasing or selling Bitcoin directly, however, once government regulation is approved the bank does have plans to buy and sell direct.

What has changed the views of many investment firms is the rise of use with their clients and the positivity surrounding cryptocurrencies in general. Many hedge funds and big investment firms have been seriously looking into cryptocurrencies as well as many major companies. Some major company names currently accepting or using cryptocurrency are Overstock, Expedia, PayPal and Shopify to name a few.

In the coming months Goldman Sachs will use its own funds to trade Bitcoin futures contracts for their clients. The bank will also begin offering their clients a non-deliverable forward ,which is what's being called a more flexible version of a future.

See the full NY Times report here.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee