Goldman Sachs Group Inc. is trying to figure out how it can handle the rising client demand for bitcoin (EXANTE: Bitcoin), Reuters reports, citing the bank's President and Chief Operating Officer, John Waldron.
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According to him, the financial institution is exploring how its clients could not only invest, but also hodl the cryptocurrency.
"Client demand is rising. We are regulated on what we can do. We continue to evaluate it ... and engage on it," Waldron told Reuters.
The Goldman Sachs COO notes the bank can offer custodian services for cryptocurrencies, but cannot principle them which is why it wants to find out how banks "should be regulated" when dealing with cryptocurrencies. Waldron's statement comes after the bank relaunched its cryptocurrency trading desk earlier this month.
The US bank tried to launch the cryptocurrency desk back in 2018, but had to put on hold plans due to regulatory uncertainty over the cryptocurrency market.
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