Goldman Sachs has no plans to launch a trading platform for bitcoin

Goldman Sachs has no plans to launch a trading platform for bitcoin

Recently Lloyd Blankfein, CEO of Goldman Sachs, has long denied rumors that the investment Bank will launch a trading platform for bitcoin.

Now know the reason — the Bank already has such a platform.

Goldman Sachs “not” launches trading platform for bitcoin

In October last year, there were slouchy that Goldman Sachs is considering opening the first major cryptocurrency trading platform on wall street.

By the end of the year familiar sources began to report that the company began to hire staff to work on the trading platform that will work outside of new York.

However, Blankfein has sharply dismissed such reports in an interview with CNBC at the world economic forum in Davos earlier this month.

“We reported that the open and carry out the clearing of futures with bitcoin for some of our clients. We will hold it. We are a primary broker, so we will do what our customers,” he said. “We don’t do major business with bitcoin, briefly supporting quotes”.

But he didn’t say that Goldman Sachs already have a trading platform for the cryptocurrency, which has existed since 2015.

The hidden share of Goldman’s cryptocurrency trades

In fact, this is not a trading platform Goldman Sachs, and the Bank is the majority shareholder of the company. But as this week according to the publication Quartz, Goldman Sachs was the lead investor in 2015 at the stage of funding Circle, in which FINTECH startup has collected $ 50 million.

In addition to the flagship service Circle Pay, the company also manages Trade Circle, which provides liquidity to the cryptocurrency markets, as well as off-exchange trading for large institutional clients with minimum orders in the amount of $ 250,000. According to the web site of the company, it directly trades the cryptocurrency of 2 billion dollars a month, making it one of the largest companies in the cryptocurrency trading.

The following eponymous service company will further expand its cryptocurrency offers and the involvement of Goldman Sachs in the nascent industry, which Blankfein has called “the mechanism for fraud.” Circle Invest launch scheduled for March. The service will provide retail investors access to trading cryptocurrency without a fee.

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