Goldman Sachs Offers Its First Bitcoin-Backed Loan: Report
Goldman has reportedly offered its first ever lending facility backed by BTC as the Wall Street giant deepens its Bitcoin offerings.Goldman Sachs has offered its first bitcoin-backed loan.The arrangement, made popular over the past few years in the Bitcoin industry by newer companies, enables a bitcoin holder to obtain fiat money like U.S. dollars by putting up their BTC as collateral to the bank. If the price of bitcoin drops, the user may be required to increase their collateral, risking getting liquidated in case they fail to do so.The Wall Street giant lent cash collateralized by....
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In the latest hint that Wall Street is pushing farther into crypto, Goldman Sachs has offered its first bitcoin-backed loan. Goldman Sachs Makes History In order to aid to the institutional adoption of cryptocurrencies, Goldman Sachs has granted its first ever Bitcoin-backed loan. According to Bloomberg, the unnamed borrower received cash from the US-based investment […]
Global investment bank Goldman Sachs has reportedly offered its first-ever loan backed by cryptocurrency. The cash loan was collateralized by bitcoin owned by the borrower. A spokesperson for Goldman Sachs explained that the deal is interesting to the investment bank due to its structure and 24-hour risk management. Goldman Sachs and Bitcoin-Backed Loans Global investment bank Goldman Sachs has offered its first-ever cash loan backed by bitcoin (BTC), Bloomberg reported Thursday. A spokeswoman for the bank explained to the publication that the secured lending facility lent cash....
Coinbase, one of the biggest crypto exchange platforms, has used Bitcoin as collateral for a cash loan with Goldman Sachs; terms as to the number of loans or interest rates are undisclosed as of this writing. The loan was initiated by Goldman Sachs as the bank’s first-ever loan that is backed by crypto, specifically Bitcoin. […]
The largest exchange in the U.S. has taken out a loan from Goldman collateralized in Bitcoin as a Wall Street first, paving the way for others to follow. America’s largest crypto exchange Coinbase has been revealed as the mystery firm that took out Wall Street’s first Bitcoin-backed loan from Goldman Sachs.Goldman Sachs has $2.5 trillion assets under management as of 2021.Bloomberg reported on Tuesday that the Bitcoin-backed loan issued by Goldman had been taken out by Coinbase as a way to deepen ties between the crypto and tradfi world, with the head of Coinbase Institutional Brett....
Bloomberg reported that Coinbase borrowed an undisclosed amount of cash that was collateralized by bitcoin in a historic transaction from Goldman Sachs.