US banking giant Goldman Sachs is allegedly the first major US bank to conduct OTC (over-the-counter) crypto transactions.
According to a March 21 CNBC report, Goldman Sachs is one of the leading Crypto trading with Galaxy Digital, a crypto investment company performed.
The so-called over-the-counter market (OTC) deals with deals that take place directly between two parties without stock market control, Goldman Sachs’s last year Compared to the stock market-based CME Group products it started withtransactions are said to constitute less.
Galaxy Digital co-president Damien Vanderwilt made a statement on the subject:
This trade marks the first step banks have taken to get directly involved in the cryptocurrency market on behalf of their clients. With the involvement of Goldman, one of the top investors in the traditional asset markets, in the OTC market, the rising maturity of the asset class is evident for institutional investors.
said.
Max Minton, head of digital assets in the Asia-Pacific region at Goldman Sachs, said, “We are delighted with the cryptocurrency trade we have undertaken with Galaxy. This is important for the development of the asset class.” said.