Banking giant Goldman Sachs partners with Galaxy Digital for CME Group’s Bitcoin futures
Banking giant Goldman Sachs has partnered with Galaxy Digital for CME Group’s Bitcoin futures. According to a CNBC report, Mike Novogratz’s cryptocurrency company will act as the bank’s liquidity provider.
As we reported earlier, the bank relaunched its cryptocurrency trading desk in March. Earlier this month, it announced that it would expand the service with Ethereum trading. Max Minton, the bank’s head of digital assets for Asia-Pacific, says the institution is responding to customer demand:
“Our goal is to equip our clients with best practice pricing and secure access to the assets they want to trade. In 2021, we are delighted to find a partner with differentiated derivatives capabilities that now includes cryptocurrencies and covers a wide range of liquidity venues and crypto ecosystem.”
It is worth noting that Novogratz started his career at Goldman Sachs in 1989. This makes such a partnership a logical step for the billionaire.
Not everyone at Goldman is open-minded about Bitcoin , though. The private wealth management arm recently published a research note concluding that cryptocurrencies are not a viable investment.