FinTech Mining Review

MARKET UPDATE GOLDMAN SACHS DROPS PLAN TO OPEN BITCOIN TRADING DESK, FOR NOW According to Business Insider, Goldman Sachs has dropped plans to launch a cryptocurrency trading desk in the near future. Reportedly, the bank has decided to sideline its plans due to the regulatory framework for crypto which is still unclear on several aspects. Despite the recent announcement, Goldman Sachs will still focus on developing its crypto custody service which will allow the bank to hold cryptocurrencies on behalf of large fund clients. The news outlet stated: “But for now, Goldman is focusing on other projects such as a custody product for crypto, which would mean that the bank holds cryptocurrency and, potentially, keeps track of price changes on behalf of large fund clients. Many market observers have said that for large institutional firms to get comfortable trading bitcoin, there need to be reputable custody offerings to safeguard holdings.” COINBASE PRO LAUNCHING NEW GBP TRADI

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