Goldman Sachs to Consider Crypto Trades Beyond Futures

According to David Solomon, the bank may launch futures trading in the future, settlements on which will be carried out in bitcoins
21 June 2018   456

The COO of Goldman Sachs, David Solomon, said that the company is already discussing the creation of full-fledged services for working with cryptocurrencies. This is reported by Bloomberg.

The company may not limit itself to one launch of the bitcoin futures trading platform. As part of this service, Goldman Sachs plans to offer its customers a flexible version of the futures.

We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too.
 

David Solomon

COO, Goldman Sachs

According to David Solomon, in the future the bank may launch futures trading, settlements on which will be carried out in bitcoins, and not in fiates, as it is done now. While he does not disclose what else the bank is preparing for customers.

Despite the "flexible" attitude of the bank to crypto-currency solutions, in June CEO Goldman Sachs Lloyd Blankfein said that bitcoin does not deserve his attention and he himself does not use cryptocurrencies.

In December 2017 it became known that Goldman Sachs is working on creating a trading platform for digital currencies. Its launch was scheduled for June.

Goldman Sachs & JPMorgan to Invest $32M in Axoni

Well-known companies such as Andreessen Horowitz, Citi, JP Morgan, Wells Fargo, Y Combinator and Digital Currency Group also took part in the investment round
15 August 2018   317

Axoni blockchain start-up raised $ 32 million in the series B financing round, led by Goldman Sachs and Nyca Partners.

Well-known companies such as Andreessen Horowitz, Citi, JP Morgan, Wells Fargo, Y Combinator and Digital Currency Group also took part in the investment round. As a result of the campaign, the total volume of venture investments in Axoni was $ 55 million.

According to representatives of the New York company, the funds raised will be used to continue the development of data synchronization technology and the Ethereum-compatible language of the AxLang smart contracts. Also, the money will be spent on creating new products based on an audited distributed network called AxCore.

Axoni CEO Greg Svehi said that his startup is seeking to increase the number of companies using blockchain based solutions based on Axoni developments.

We are pleased to be part of Axoni’s journey since co-leading their Series A financing back in December 2016, and we are excited to see their progress made to date. The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications. We continue to be impressed with Axoni’s ability to facilitate such adoption by identifying use cases that could benefit from blockchain technology.
 

C. Thomas Richardson

Head of Market Structure and Electronic Trading Services, Wells Fargo Securities

In the spring of last year, the startup received $ 20 million from Citi, the banking giant, a year earlier - $ 18 million from a number of large financial institutions and venture investors.