Goldman Sachs considering direct Bitcoin trading

A leading global investment firm, Goldman Sachs, is to launch direct Bitcoin trading
03 October 2017   2874

Goldman Sachs, a leading global investment banking, securities and management firm providing a wide range of financial services to a substantial and diversified client base, is rumored to be considering the launching of the direct Bitcoin trading service.  

As detailed by wsj.com, Goldman Sachs would open a whole new marketplace for investors.

In response to client interest in digital currencies we are exploring how best to serve them in this space.
 

Goldman Sachs spokeswoman

Letting alone the client interest, Goldman Sachs also looks to benefit from the inherent volatility present within the cryptocurrency markets: the traditional markets have been less volatile lately, so the investment banks like Goldman have posted sluggish revenues from their trading operations. As cryptocoinsnews.com speculates, though the dramatic price swings within the crypto markets intimidate many investors, professional traders view this volatility as an opportunity to reap significant gains.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.