Goldman Sachs Reportedly Launches Bitcoin Derivatives31.10.2018
The Block reports that, according to its source, Goldman Sachs has begun to attract a limited number of customers to their own product, which is being prepared for launching, to trade Bitcoin - a non-deliverable forward, which will be calculated in fiat currency. According to its characteristics, the instrument will be like the Bitcoin futures previously implemented by the CME and CBOE exchanges, but the new instrument will not circulate on the trading floor.
The Block also refers to a message from the Abacus Journal portal, which says that the bank is engaged in research into the possibility of creating a non-deliverable forward on Etherium. However, a source familiar with the situation clarified that this information is not definitive.
Now, there is no assurance that the bank is able to release a product tied to the ETH rate at all, since at the moment there is no large-scale regulated platform for working with ETH. Earlier plans to launch futures for Ethereum announced many exchange, but today so far nobody provided the finished product for this scope.
In addition, the source said that most Goldman Sachs customers do not show open interest in cryptocurrency products, but this does not mean that they are not at all interested in the cryptocurrency market. There is information that soon some of the bank’s customers will meet with its management to discuss the prospects for a cryptocurrency ecosystem and the possibility of participation in the industry.
In early September, Business Insider reported that Goldman Sachs would refuse to open a cryptocurrency unit, at least in the short term. However, later the director of the company, Martin Chavez (Martin Chavez), denied this information.
“An article that says that we will give up the development of a cryptocurrency direction I saw being in New York when I co-chaired a meeting of our Risk Board. I immediately thought that we did not announce anything of the kind and there were no changes regarding our plans. I never thought that I would use this expression, but the situation forces me to say that the news is fake”, he said.