Goldman Sachs offers bitcoin-backed loan: Bloomberg

Goldman Sachs has reportedly offered its first loan facility backed by bitcoin.

The cash loan was offered with bitcoin as collateral, a spokesperson for the bank told Bloomberg.

Per the report, Goldman was interested in the deal because of how it was structured and the 24-hour risk management.

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Like other firms in the traditional finance space, the banking giant has been making strides into the crypto world recently.

Last month, Goldman offered its first-ever over-the-counter crypto transaction in the form of a bitcoin non-deliverable option and a recent report said that it was gearing up to offer over-the-counter ETH options.

The company is also reportedly looking to strengthen ties to FTX, as the exchange giant navigates US regulations. It participated in a funding round for blockchain security firm CertiK.

About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).