A heavyweight in the financial sector, Goldman Sachs, is considering introducing a custody service for crypto currency funds according to insider reports. This would pave the way for the entry of institutional investors.
After Coinbase recently announced the launch of their custody service, a positive wave of euphoria passed through the crypto market, as many hopes of a rising course were connected with it or are still connected with it.
According to a report yesterday, insider information was reported to BusinessInsider confirming that Goldman Sachs is also planning to introduce a custody service. This development is in contrast to the recent statement that the bank has not yet reached agreement on its plans in the crypto market.
There is a strong demand among Goldman Sachs’ clients for the crypto market and its opportunities for investors. Bloomberg reports:
In response to customers’ interest in various digital products, we are investigating how to serve them best in this area. At this point, we have not yet reached a conclusion about the scope of our digital assets.
Although the statements are relatively daring, Bloomberg concludes that it is a matter of introducing a custody service. This is intended primarily for investors with large amounts of capital, as they are at high risk of loss when trading in bitcoin and other crypto currencies.
Whether and when this step will actually be realized remains to be seen for the time being. It also remains to be seen whether this will have a strong positive influence on the crypto market.
A few days ago, the NYSE announced the launch of the ICE for November with “physical bitcoin futures” this year. Overall, there is great global progress in the adaptation and development of the various technologies of the crypto currencies.
Regardless of when and if prices rise, one thing is certain: crypto currencies have come to stay.