Goldman Sachs Conducts First Crypto OTC Trade with Galaxy Digital
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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.

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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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