The institutional adoption of crypto as an investment has really become a fact. The US investment bank has announced in an internal memo to its employees that it has set up a crypto trading team. The American television channel CNBC has seen the memo.
Founded in 1869, Goldman Sachs is one of the largest investment banks in the world. The bank has over $ 2 trillion in assets under management and 40,000 employees. That Goldman Sachs is now setting up its own crypto trading team is therefore big news. Cryptocurrency in Spain is popular.
According to the memo, the new team will be part of Goldman Sachs’ branch focused on global currencies and emerging markets. In the memo, Rajesh Venkataramani, partner at the bank, writes:
“I am pleased to announce the creation of the cryptocurrency trading team, which will be our centralized desk for managing cryptocurrency risk for our clients. The Crypto trading team will be part of Global Currencies and Emerging Markets (GCEM) and will report to me within the company’s Digital Assets effort led by Mathew McDermott. ”
Venkataramani reports in the memo that the team has already traded some Bitcoin (BTC) NDFs and CME BTC futures. The team will further expand its presence in the crypto market in the future. It is therefore likely that other cryptocurrencies will also be traded. Venkataramani further adds to the announcement: Netherlands cryptocurrency is popular.
“In addition, yesterday we launched our Digital Assets dashboard, which provides our clients with daily and intraday market data and cryptocurrency news. We invite you to bring the dashboard to the attention of your customers. For more information about trade approval and onboarding, please contact the Digital Assets team. ”