by

Goldman Sachs Gearing Up To Offer ‘Full Spectrum’ of Bitcoin

Goldman Sachs Gearing Up To Offer ‘Full Spectrum’ of Bitcoin (BTC) and Crypto Investment Services to Wealthy Clients: Report. Banking giant Goldman Sachs is reportedly looking to offer crypto investment services to its deep-pocketed clients in the coming months.

According to a new report by CNBC ; the investment bank soon plans to add support for Bitcoin (BTC) and a “full spectrum” of other crypto; assets due to high demand from its high-net-worth customers.

Says Mary Rich, the newly appointed head of digital assets for Goldman Sachs’ private wealth management division,

“We are working closely with teams across the firm; to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients; and that is something we expect to offer in the near term…

There’s a contingent of clients who are looking to [cryptocurrencies] as a hedge against inflation, and the macro backdrop over the past year has certainly played into that.

There are also a large contingent of clients who feel like we’re sitting; at the dawn of a new Internet in some ways and are looking for ways to participate in this space.”

Goldman Sachs’ private wealth management is geared toward affluent clients with a minimum of $25 million to invest.

Currently, the bank is in the middle of gathering the necessary permissions needed from state and federal regulatory agencies; such as the U.S. Securities and Exchange Commission (SEC) and the New York Department of Financial Services, to lawfully offer crypto services; sources with knowledge of the matter told CNBC.

If approved, Goldman Sachs would join fellow US-based banking titan Morgan Stanley in offering up BTC investment services to consumers.

.Read More Altcoins, Bitcoin, Regulators, banking, BTC, Crypto; goldman sachs, Morgan Stanley, new york, News, regulators, SECBitcoin News – The Daily Hodl

Comment

Leave a Reply