Last week, Goldman Sachs made crypto history. The bank completed its first over-the-counter crypto trade with crypto firm Galaxy Digital.
Goldman executed the transaction in the form of a bitcoin non-deliverable option (NDO). Goldman and Galaxy – which have an ongoing partnership – seem pleased with the move. Galaxy notes that the OTC settlement is a “continuation of the bank’s partnership with Galaxy Digital to deepen its crypto capabilities.” And a Goldman exec said of the transaction, “This is an important development in our digital assets capabilities and for the broader evolution of the asset class.”
This seems like a positive signal for crypto. But what does it mean for institutional crypto adoption? And how will it impact the markets moving forward?
In this episode of Crypto Monitor, Vin Narayanan and Allison Brickell discuss the implications of Goldman Sachs’ OTC transaction.
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