We Aren't Going to Launch Crypto Desk, - Goldman Sachs

This was said by company's CEO during a meeting of the US House of Representatives devoted to issues of accountability and trust in financial institutions
12 April 2019   299

The CEO of the investment bank Goldman Sachs, David Solomon, during a meeting of the US House of Representatives, said that his company did not plan to launch a platform for trading cryptocurrencies. This is reported by The Block.

Referring to the publication of Bloomberg in December 2017, Solomon stressed that the company had never had plans to launch such a trading platform. According to him, the publication incorrectly interpreted the information from Goldman Sachs:

First, that Bloomberg article was not correct. Like others, we are watching and doing work to try and understand the cryptocurrency market as it develops. We have some clients that have certain functionality that we’ve engaged with on clearing physically settled futures, but other than that we never had plans to open a cryptocurrency desk.
 

David Solomon

CEO, Goldman Sachs

When asked about the likelihood of launching cryptocurrency products in the future, Solomon answered rather evasively:

We might at some point [explore a desk] in time, but no question when dealing with cryptocurrency it’s a new area, there are a lots of issues…unclear from regulatory perspective and it’s not clear in the long-run if those currencies will be viable.
 

David Solomon

CEO, Goldman Sachs

The meeting, at which Solomon spoke, was generally devoted to issues of accountability and the problems of citizens' trust in financial institutions. The meeting was attended by the heads of the seven largest US banks.

Circle to See Crypto Demand from Investors

As the company's CEO Jeremy Allair said, Circle also recorded a x15 increase in the number of transactions compared to the same period last year
26 June 2018   855

In May, the crypto-currency blockchain start-up Circle attracted 30% more institutional investors than in April. The company's performance has increased despite the fact that the rate of bitcoin for the same period fell by about 20%. This is reported by CNBC.

As the company's CEO Jeremy Allair said, Circle also recorded a x15 increase in the number of transactions compared to the same period last year.

According to him, starting from this week all trading operations on the platform will be automated.

Major institutional investors don't go through a telephone broker. They go through an electronic interface. We're maturing this into a more traditional product; it's much faster and a more flexible way to trade.
 

Jeremy Claire 

Founder and CEO, Circle

We note that the monthly trading on the platform exceeds $ 2 billion, while the minimum amount of the deal is at least $ 250,000.