Goldman Sachs CEO talks bitcoin and cryptocurrency during earnings call – The Block Crypto

Still, Solomon stated that while the bank cant trade bitcoin on a primary basis, cryptocurrencies are “essential to the future of worldwide monetary systems.”.

When it comes to Goldmans strategies in the retail crypto market, it doesnt look like the bank is going to be running in that area anytime quickly, according to Solomon..

Goldman Sachs recently made headings for recommending it would use clients of its private wealth division access to bitcoin-related products..

” We continue to look for methods to broaden our abilities to support our clients requirements,” Solomon said, according to a records obtained by The Block.

” Central banks are looking at digital currencies, working to use this innovation to the local markets and determine the longer term influence on global payment systems. Likewise substantial concentrate on cryptocurrencies like Bitcoin, where the trajectory is less clear as market participants assess their possibility as a store of worth.”.

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” At the moment we are not concentrated on providing a crypto wallet,” he stated reacting to a concern about how Goldmans Marcus brand might profit from the existing activity around bitcoin. “With regard to crypto payment systems … weve been a lot more concentrated on the institutional side,” Solomon went on to state.

” I likewise wish to discuss the topics of cryptocurrency blockchain and the digitization of cash,” he began, saying:.

Goldman Sachs CEO David Solomon discussed the significance of bitcoin and cryptocurrency during the banks earnings call Wednesday early morning, suggesting how central the market has actually become for Wall Streets leading banks..

Correction: An earlier variation of this report improperly associated comments about bitcoin and gold to Goldman Sachs CEO David Solomon. The quote has actually been eliminated from this report..

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