Investment banking giant Goldman Sachs has reportedly started signing up a limited number of customers for its upcoming bitcoin trading product.
The Wall Street banking giant and Galaxy Digital Ventures together invested a total of $15 million in the Series B funding round for BitGo.
A growing number of banks have started to understand the power fo digital assets in moving money across the borders in a fast, cheap, and transparent manner.
Thanks to the efforts of Circle, to buy collections of cryptocurrencies it will be enough just to make a few easy taps in Circle’s crypto purchasing app.
Cryptocurrency startup Veem just completed a new funding round that includes investors such as Goldman Sachs and Google Ventures. This is not surprising, given the exponential growth of the company, as it seeks to disrupt the global payments sector.
Goldman Sachs will continue working on cryptocurrency trading desk as well Bitcoin derivate products and clearing physical futures contracts.
Ethereum sank as much as 15 percent and Bitcoin fell almost 7 percent to a three-week low in a few hours. However, the decision made by Goldman Sachs is likely to be only temporary and may be revised in the near future.
A number of prominent companies participated in $32 million Series B funding round of Axoni, the software developer from New York.
The launch of crypto-custody service by Goldman Sachs will help to instill more confidence among investors and may even drive big players to participate in the cryptocurrency market.
Goldman Sachs is appointing a new CEO David Solomon, who will replace the incumbent chief executive Lloyd Blankfein in October. With the new CEO, the bank is expected to add more bitcoin and other crypto services to its portfolio.