Goldman Sachs Relaunches Crypto Trading Desk

Goldman Sachs, a leading global investment banking, securities and investment management firm, has relaunched cryptocurrency trading desk and plans to deal bitcoin futures and non-deliverable forwards, as a report says.

The bank has already decided where to house the desk, according to the report, and the operations will likely involve Global Markets division.

Goldman Sachs’ decision comes amid growing interest by institutions in bitcoin, surging over 470% over the past year. Investors and some companies see bitcoin as a hedge against inflation as government and central banks turn on the stimulus taps.

Goldman Sachs first set up a cryptocurrency desk in 2018, just as bitcoin’s price falling from records highs, before ditching the idea of a trading desk dedicated to crypto assets, citing regulatory uncertainty.

About Goldman Sachs

The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals.

Goldman Sachs’ mission is to advance sustainable economic growth and financial opportunity across the globe. Drawing upon over 150 years of experience working with the world’s leading businesses, entrepreneurs, and institutions, Goldman mobilize its people and resources to advance the success of clients, broaden individual prosperity and accelerate economic progress for all.