Goldman Sachs rolls out first bitcoin-backed loan
Goldman Sachs and other Wall Street moguls show signs of increased interest in cryptocurrencies
By Shashank Bhardwaj
Global investment banking giant Goldman Sachs has given its first bitcoin-backed loan to a borrower, and the move is being touted as a major step toward institutional adoption of cryptocurrencies by Wall Street. Last month, Goldman Sachs successfully traded its first over-the-counter bitcoin options to Galaxy Digital.
Goldman Sachs allowed one of its customers to receive a cash loan backed by Bitcoin as collateral for the first time in its history. The loan was granted by the secured lending facility of the bank.
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