Galaxy Digital Facilitates Goldman Sachs’ First OTC Crypto Options Trade

Multinational investment bank and financial services company Goldman Sachs has completed an over-the-counter (OTC) cryptocurrency-related trade with the digital-asset financial company Galaxy Digital, in a transaction that the firms are characterizing as a first.

This marks the first OTC crypto transaction by a major bank in the U.S., as Goldman Sachs continues expanding its cryptocurrency offerings, demonstrating the continued maturation and adoption of digital assets by banking institutions. It also represents a continuation of the Bank’s partnership with Galaxy Digital to deepen its crypto capabilities, which included facilitating the Bank’s first CME Group Inc. Bitcoin futures transaction last year.

Damien Vanderwilt

“We are pleased to continue to strengthen our relationship with Goldman and expect the transaction to open the door for other banks considering OTC as a conduit for trading digital assets,” said Damien Vanderwilt, Co-President, and Head of Global Markets at Galaxy Digital.

“Goldman’s continuing trust in us is a testament to Galaxy’s expertise and ability to meet the evolving demands by institutions as crypto solidifies itself as the fifth asset class.”

Galaxy Digital’s trading platform is wholly focused on the rapidly expanding digital-asset market, offering clients deep, diverse liquidity across a variety of centralized exchanges and OTC markets. Through strong relationships with spot and future exchanges, digital asset exchanges, custodians and fiat banking partners, Galaxy has deep capabilities in moving capital and assets securely and efficiently.

“We are pleased to have executed our first cash-settled crypto currency options trade with Galaxy,” said Max Minton, Asia Pacific head of digital assets for Goldman Sachs.

“This is an important development in our digital assets capabilities and for the broader evolution of the asset class.”

Galaxy’s trading platform provides liquidity in over 100 digital assets, with a consistent focus on the expanding needs of its counterparties in the digital assets sector. Galaxy works with over 690 institutional trading counterparties and added 43 new relationships in the third quarter of last year.

--

--

--

Your foremost source for #blockchain news ⛓ Inquiries: contact@blockchaindaily.news

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Erick Pinos of Ontology: 5 Ways That We Can Help Stabilize The Cryptocurrency Market

Sergey Savastiouk of Tickeron: Why Cryptocurrency Needs SEC Regulation In The US

EasyFi Partners with Clover Finance and extends to the Polkadot Ecosystem⚡️⚡️

AMA RECAP : CRYPTOSCAPE x MEKAMONS Venue : Crypto Scape Date : 10 NOV 2021 Time : 06:00 PM UTC.

What On Earth Is Cryptocurrency?

BinaryDAO Explanation In Depth

Step-by-step guide “How to buy Mining units for USDT”

Everstake Supports Switcheo TradeHub as a Validator

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Blockchain Daily

Blockchain Daily

Your foremost source for #blockchain news ⛓ Inquiries: contact@blockchaindaily.news

More from Medium

Our Story and Journey. | by TC(C) Triple Confirmation | Apr, 2022 | Medium

Cryptocurrencies — What are they?

Ethereum is approaching the ‘merge’ and crypto investors are having major FOMO

Eclat World: An Advance Growing decentralized platform on the Binance Smart chain