Goldman Debuts Bitcoin-Backed Loan

AnalysisGoldman Debuts Bitcoin-Backed Loan



Alex Dovbnya

Goldman Sachs has extended its cryptocurrency push by offering a Bitcoin-backed loan

U.S. banking giant Goldman Sachs, which has roughly $2.5 trillion worth of assets under management, has introduced a Bitcoin-backed Bitcoin loan, according to a Thursday report by Bloomberg. It’s the latest sign that Wall Street is warming up to the nascent asset class. 

The borrower was able to secure a cash loan from a secured lending facility by offering Bitcoin as collateral, according to the report.

In December, multiple media outlets reported about Goldman’s plans to offer Bitcoin-backed loans.

Goldman became one of the first major U.S. to delve into crypto, openly a trading desk for digital currencies back in 2018. Last March, the banking behemoth decided to restart it because of significant demand.

Last month, Goldman made its first over-the-counter cryptocurrency transaction with Mike Novogratz’s cryptocurrency bank Galaxy Digital.         



Learn more

Latest news

clues someone is reading your text messages

Just about every connected device you have can be used to spy on you, and this isn’t limited...

Venom Ventures Partners with Everscale, Announces $5 Million Strategic Investment

Vladislav Sopov Venom Ventures, first-ever blockchain-focused VC fund in Abu Dhabi, shares details of its strategic collaboration with Everscale Contents Venom...

US home price inflation slows further in November

US single-family home price growth cooled further in November, surveys showed on Tuesday, which together with declining mortgage rates could...

Toyota to Experiment With Blockchain Use Cases by Sponsoring Astar Network's Hackathon

The auto giant may use technology developed from the hackathon for its internal use. Learn more

AMD’s Profit Plunges Amid Weaker PC Sales

AMD’s Profit Plunges Amid Weaker PC Sales Learn more

Readying Retail For The Next 30 Years

Stephan Schambach is the Founder and CEO of NewStore, a turnkey omnichannel store solution. The events of the...

Must read

clues someone is reading your text messages

Just about every connected device you have can...

Venom Ventures Partners with Everscale, Announces $5 Million Strategic Investment

Vladislav Sopov Venom Ventures, first-ever blockchain-focused VC fund in...

US home price inflation slows further in November

US single-family home price growth cooled further in November, surveys...

You might also likeRELATED
Recommended to you