Goldman Sachs Is Exploring Crypto Derivatives, According To Its COO

One of the leading investment banking groups in the US and the world, Goldman Sachs, is apparently exploring cryptocurrency trading derivatives. The news comes from the Chief Operating Officer (COO) at Goldman Sachs, who revealed that the company is already assisting clients in publicly-traded derivatives including Bitcoin (BTC) futures.

The COO David Solomon also added that the company is “very cautiously” considering “some other activities” in the field. According to him, the purpose of the company is to “evolve its business and adapt to the fast-paced environment” with special respect to cryptocurrencies.

As Solomon said in an interview with Bloomberg:

“We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too.”

Yesterday, the Goldman Sachs CEO Lloyd Blankfein confirmed his positive stance on cryptocurrencies, adding that the adoption of digital coins like Bitcoin could happen in a similar way as the adoption of paper fiat money, which have quickly replaced gold and silver coins.

Meanwhile, Goldman Sachs’ stance towards cryptocurrencies has changed as the digital assets have grown more popular. In 2014, Goldman Sachs argued that Bitcoin does not qualify as a currency. Three years later (2017), the firm said that it “has become more difficult for institutional investors to ignore Bitcoin and other cryptocurrencies”. In December 2017, Goldman Sachs was even rumored to be opening its very own crypto trading desk.