Goldman Sachs reportedly started trading on JPMorgan’s repo blockchain
Goldman Sachs reportedly traded digitized treasury bonds for JPM Coin on JPMorgan Chase's Onyx blockchain platform. After six months of eyeing JPMorgan Chase’s custom blockchain service for repo markets, Goldman Sachs has started trading on the platform. Mathew McDermott, global head of digital assets for Goldman Sachs’ global markets division, confirmed the first transaction dated June 17 in an interview, Bloomberg reported. In the trade, Goldman Sachs swapped a tokenized version of a United States Treasury bond for JPM Coin, JPMorgan’s dollar-pegged stablecoin. JPMorgan started its....
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Goldman Sachs Group Inc. has joined the blockchain-based network created by JPMorgan Chase & Co. for repurchase agreements that use smart contracts and a digitized version of the U.S. doll Goldman Sachs On JPMorgan’s Blockchain In an interview with Bloomberg, Mathew McDermott, global head of digital assets for Goldman Sachs’ global markets group, verified the […]
JPMorgan is using blockchain to drive efficiency in the repo market; Goldman and others are taking notice. Goldman Sachs is reportedly one of several financial institutions to sign on to JPMorgan’s custom blockchain service — a sign that more broker-dealers were looking to take advantage of digital currencies for their repo operations.In an interview with Bloomberg, Scott Lucas, head of blockchain markets at JPMorgan, said the investment bank is already using blockchain to conduct billions of dollars worth of repurchase agreements. The bank utilizes JPM Coin, a dollar-backed stablecoin, to....
Global investment bank Goldman Sachs is reportedly predicting that the price of ether could rise to $8,000 by year-end. The bank’s analysts explained that cryptocurrencies have traded in line with inflation breakevens since 2019.
Ether Could Reach $8K by Year-End, According to Goldman Sachs
Goldman Sachs has reportedly explained in a research note circulated by the bank’s managing director of Global Markets, Bernhard Rzymelka, that the price of ether (ETH) could hit $8,000 by year-end. The note details that cryptocurrencies have traded in line with inflation....
Investment bank Goldman Sachs has reportedly begun offering a bitcoin investment product to clients. The firm has opened up trading with non-deliverable forwards, a bitcoin derivatives product. To hedge against the cryptocurrency’s volatility, Goldman Sachs will trade bitcoin futures on CME Group. Goldman Sachs Begins Offering Bitcoin Product to Clients Investment bank Goldman Sachs “has opened up trading with non-deliverable forwards, a derivative tied to bitcoin’s price that pays out in cash,” Bloomberg reported Thursday. The firm is protecting itself from....
A Goldman Sachs executive has reportedly resigned from the investment bank after he made a fortune investing in dogecoin. The meme cryptocurrency is touted by a growing number of celebrities, including the Dogefather Elon Musk and Mark Cuban. Goldman Sachs Executive Quits After Making Millions in Cryptocurrency Aziz McMahon, a managing director at Goldman Sachs in the U.K., has resigned from the investment bank. Goldman confirmed McMahon’s departure to Business Insider but did not provide a reason. However, Efinancialcareers reported that the executive’s departure followed him....