John Waldron, the chief operating officer (COO) of Goldman Sachs, says the financial services giant is seeing rising customer demand to own and invest in bitcoin. Nevertheless, the COO explained that his organization was still exploring ways of satisfying this demand without running afoul of regulators.
â€˜How Banks Should Be Regulated When Dealing With Digital Moneyâ€™
In remarks made during an interview, Waldron, who is also the banking giantâ€™s president, adds that Goldman Sachs â€œis in discussions with regulators and central banks about how banks should be regulated when dealing with digital money.â€ Meanwhile, in explaining the financial giantâ€™s unique approach towards satisfying customer demand, Waldron said:
In addition to looking for ways of satisfying the growing consumer demand for cryptos, the Reuters report also reveals that â€œGoldman is also exploring a bitcoin exchange-traded fund (ETF) and has issued a request for information to explore digital asset custody.â€
â€˜Covid-19 Pandemic a Significant Accelerantâ€™
In the meantime, Waldron is quoted in the same report explaining how the Covid-19 pandemic has caused an â€œexplosion in online commerceâ€ and how this trend is unlikely to change going forward. He said:
Meanwhile, as Waldron reveals Goldman Sachsâ€™ cautious crypto approach, recent reports, however, indicate that the banking giant has alreadyâ€restarted its cryptocurrency trading desk.â€ Additionally, the banking giant also â€œstarted dealing in bitcoin futures and non-deliverable forwards for clients.â€
Do you agree with Waldronâ€™s assertion that the use of digital currency will explode? You can tell us what you think in the comments section below.
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