Goldman Sachs has executed the first over-the-counter (OTC) crypto transaction with Galaxy Digital in the form of a bitcoin (EXANTE: Bitcoin) non-deliverable option. The company said in a press release this was the first OTC crypto transaction made by a major bank in the US.
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Damien Vanderwilt, Co-President, and Head of Global Markets at Galaxy Digital, said that the company hopes the milestone to open the door "for other banks considering OTC as a conduit for trading digital assets."
"Goldman's continuing trust in us is a testament to Galaxy's expertise and ability to meet the evolving demands by institutions as crypto solidifies itself as the fifth asset class," Vanderwilt added.
In June last year, Mike Novogratz's company became Goldman Sachs' liquidity provider for bitcoin futures block trades on CME. The New York-based company particularly offers the bank access to deep and diverse liquidity on a principal basis of cryptocurrency exchanges and OTC markets.
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