Goldman Sachs wants to offer products linked to Bitcoin
The consortium would become one of the first major Wall Street banks linked to cryptography
Rana Yared, executive of the US banking consortium Goldman Sachs, recently told the New York Times that the financial institution is “advising” on the advantages and disadvantages of entering into transactions and financial contracts linked to the Bitcoin price for its clients.
Yared said that this decision is due to the company’s conclusion that Bitcoin “is not a fraud”, and although it doesn’t have the characteristics of a currency, many of the bank’s clients want to have it as an investment or as a good valuable.
However, the executive stressed that most managers are skeptical of working with cryptocurrencies.
She added that already a team of the company designs strategies and is waiting to advance in the implementation of operations with cryptocurrencies, once the regulatory approval is obtained and they learn to manage the additional risks associated with the virtual currencies.
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