Mary Catherine Rich, Goldman Sachs’ new head of digital assets in the bank’s private wealth management division, announced that the bank will offer investments in bitcoin (BTC) and other cryptocurrencies services soon.
Goldman Sachs allows you to buy bitcoins
CNBC interviewed Mary Rich, who said Goldman Sachs is working hard to offer access to this new type of asset. We will see the results of these efforts in the second quarter of this year.
“All divisions of the company are working together to find ways to provide appropriate access to the ecosystem for private equity clients,” she said.
Furthermore, she added that the company is looking into the possibility of offering a complete suite of tools for investing in cryptocurrencies in various ways.
Morgan Stanley, a U.S. multinational financial corporation, recently announced that their financial advisors will be able to offer bitcoin funds to their clients later this month. I believe Goldman Sachs wants to follow that path as well.
Rich stated that the bank is looking for ways to offer new financial products focused on the market for digital currencies in response to its customers’ demand for cryptocurrencies.
She mentioned that some clients treat these assets as a hedge against inflation, and macroeconomic conditions have certainly had an effect on them this year.
Goldman Sachs is currently undergoing regulatory approvals in order to expand its cryptocurrency offerings. This is the first U.S. bank to have made an OTC cryptocurrency transaction.
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