#CryptoCorner #Podcast 798: #Stocks discussed: (NYSE: $GS) (TSX: $GLXY.TO)
#CryptoCorner
#Podcast 798: #Stocks discussed: (NYSE: $GS) (TSX: $GLXY.TO)
Goldman Sachs Makes First
OTC Crypto Transaction by Major US Bank with Galaxy Digital, and El Salvador
Delays Bitcoin Bonds Launch
Vancouver, Kelowna, Delta, BC March 21,
2022 - Investorideas.com, a leader in
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Stocks
discussed: (NYSE:GS) (TSX:GLXY)
Goldman Sachs (NYSE:GS) has made the first OTC crypto transaction by a
major U.S. bank, facilitated and executed by a trading unit of Galaxy Digital
Holdings Ltd. (TSX:GLXY). The transactions took the form of a
Bitcoin (BTC) non-deliverable option (NDO), according
to the press release, and follows Goldman’s first CME Group Inc. Bitcoin
futures transaction last year. Damien Vanderwilt, Co-President, and Head of
Global Markets at Galaxy Digital, commented:
"We
are pleased to continue to strengthen our relationship with Goldman and expect
the transaction to open the door for other banks considering OTC as a conduit
for trading digital assets. Goldman's continuing trust in us is a testament to
Galaxy's expertise and ability to meet the evolving demands by institutions as
crypto solidifies itself as the fifth asset class."
Max Minton, Asia Pacific
head of digital assets for Goldman Sachs, said:
"We
are pleased to have executed our first cash-settled crypto currency options
trade with Galaxy. This is an important development in our digital assets
capabilities and for the broader evolution of the asset class."
BNN Bloomberg reports that “the vast majority
of companies” in El Salvador “haven’t used crypto for business,” according to a
survey from that country’s Chamber of Commerce. Only 14 percent of those
surveyed reported having transacted in Bitcoin since September, when El
Salvador became the world’s first country to recognize the flagship
cryptocurrency as a legal tender. Despite this, the country’s Finance Minister,
Alejandro Zelaya, said “El Salvador is pressing ahead with plans to issue what
would be the first state-backed Bitcoin bonds in the coming days.”
However, Cointelegraph reports that the government of
El Salvador has seemingly delayed these Bitcoin bonds – also called “volcano
bonds” – which were meant to have launched by March 20. Fernando Nikolić,
marketing director at Blockstream – El Salvador’s partner in the bond launch –
said to Cointelegraph, regarding the new dates of the launch:
“EBB1
will simply be issued on the Liquid Network, which is operated by members
geographically distributed all over the world. Blockstream serves only as a
technology provider. So, whenever they are ready, they will be able to issue
the bond on Liquid the same way anyone else can.”
Sam Mowers, Investorideas
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