On May 3rd, according to the “New York Times” report, Wall Street investment bank Goldman Sachs officially started the Bitcoin transaction business and will start trading Bitcoin futures for customers. It will also provide a non-deliverable forward market. Shortly after the news broke, Bitcoin rose close to 200 US dollars.
Although most big banks are trying to stay away from cryptocurrencies such as Bitcoin, Goldman Sachs is the first bank on Wall Street to operate Bitcoin trading operations.
Goldman Sachs will begin to use its own funds to trade with customers. The transaction price is linked to the price of Bitcoin. The bank stated that it will not directly participate in the physical trading of Bitcoin. They are waiting to see if it can obtain approval from the regulatory authorities and find out the additional risks associated with handling digital currency assets.