US banking giant Goldman Sachs has filed a Bitcoin-backed loan, according to a Bloomberg report. It is the latest sign that Wall Street is becoming more and more familiar with cryptocurrencies and this new type of digital assets.
As many know, Goldman Sachs is one of the largest investment banking and securities groups in the world. It was founded in 1869, and since then it has only grown.
Goldman Sachs expanded its cryptocurrency push by offering a Bitcoin-backed loan
As reported by Bloomberg, in this particular case, the borrower was able to get a cash loan from a secured line of credit by offering Bitcoin as collateral.
However, this news is not something new, since previously several media outlets had already reported on the plans that Goldman Sachs had to offer loans that were backed by Bitcoin.
What has been the background of this bank in regards to BTC?
Although it has been a gradual advance, in 2018 Goldman Sachs became one of the first large American banks to delve into cryptocurrencies openly, including Bitcoin. How? Establishing a digital currency trading desk that year.
Thanks to its high demand, the bank decided to restart this action last March. Likewise, last month, Goldman Sachs made its first over-the-counter cryptocurrency transaction with Mike Novogratz’s Galaxy Digital cryptocurrency bank.
It is expected that this is just the beginning of a long road in which banks decide to adopt Bitcoin or cryptocurrencies. Specifically, they begin to consider them as something real and with utility.
Relate
