US investment bank Goldman Sachs has just announced it is exploring the possibility of offering over-the-counter bilateral crypto options, Bloomberg has reported.
According to the publication's sources, the bank is one of the few Wall Street banks in the early stages of exploring such products.
Bilateral options allow users to set up transactions so that holders of cryptos, such as funds or crypto miners, can hedge risk or increase returns.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The market for this type of derivatives is still in its early stages, and is currently dominated by crypto firms such as Genesis Global Trading, Galaxy Digital Holdings and GSR, while one of the traditional market participants is DRW Holdings.
Last year Goldman Sachs started offering its clients the ability to trade Bitcoin and Ethereum futures and options. The bank also launched non-deliverable fiat-based forwards based on Bitcoin.