Goldman Sachs Bitcoin OTC deal

Goldman Sachs made an OTC deal with an option on Bitcoin

22.03.2022 14:59
by Artem Ustinov
1 min read

Goldman Sachs made an OTC deal with an option on Bitcoin

US investment giant Goldman Sachs has completed its first OTC transaction with Galaxy Digital. The OTC operation was carried out in the format of a deal with a settlement option on Bitcoin.

The press release notes that Goldman Sachs is the first US bank to conduct an OTC cryptocurrency transaction. The companies intend to expand cooperation in the field of operations with digital assets.

A settlement option is a contract that pays out based on the difference between the market value of the underlying asset and its predetermined price. During the execution of transactions with such financial instruments, physical deliveries do not occur.

Author

  • Crypto analyst and practitioner trader with the law and managerial education. Active investor and crypto enthusiast. Worked as an analyst and copywriter in a brokerage company. Accompanied by DAO and NFT projects of different levels of complexity.

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