Goldman Sachs has executed its first over-the-counter (OTC) transaction with crypto options.
In Brief:
It has used Galaxy Digital Holdings to complete the transaction.
Galaxy’s trading platform was used to carry out the transaction of a Bitcoin non-deliverable option.
Galaxy and Goldman had already partnered on a Bitcoin futures transaction.
What does this mean?
This is the first transaction of its kind by a major US bank and shows, after initial hesitation, an increased appetite from financial institutions to offer crypto services.
