Goldman Sachs and Barclays Bank Have Secret Crypto Plans
Multiple sources report that the firms are investigating cryptocurrency, but both deny any concrete plans.
Sources from investment bank Goldman Sachs have told Bloomberg that the firm is considering a custodian service for cryptocurrency investment funds. In response to request for comment, a spokesman told Bloomberg: “At this point we have not reached a conclusion on the scope of our digital asset offering.” Rana Yared, managing director of the company’s securities division, said in May that the firm was being “inundated” with requests for cryptocurrency services.That same month, the firm hired someone to the new role of ‘Head of Digital Asset Markets’ and announced that it would be trading “contracts linked to the price of Bitcoin” with its own money while seeking regulatory approval to trade Bitcoin itself.The company remains undecided, however. Speaking to Bloomberg, the spokesman made it clear that no timeline has been set for any new service.