Goldman Sachs to Offer Digital Assets, Including Bitcoin, to Its Private Wealth Management Clients: Report

Washington, March 31: Goldman Sachs’ private wealth management group will soon offer instruments for investment in digital currencies including Bitcoin to its clients, as per a report. ″We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near term,” Mary Rich the Global Head of Digital Assets for the bank’s private wealth management group said, as reported by CNBC.

The investment bank is likely to introduce the new investment vehicle in the second quarter of the financial year, as per the report. Rich said that Goldman is looking at offering a spectrum of investments in bitcoin and digital assets, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles.” Visa Crypto API: US Fintech to Launch Project Enabling Customers to Deal in Bitcoin, Other Cryptocurrencies.

Talking about the bank’s plan to rollout investment opportunities for the digital assets, Rich said, “We’re still in the very nascent stages of this ecosystem; no one knows exactly how it will evolve or what shape it will be. But I think it’s fairly safe to expect it will be part of our future.” Twitter CEO Jack Dorsey, US Rapper Jay-Z Set Up Endowment ‘Btrust’ to Fund Bitcoin Development with Initial Focus on India and Africa. 

Last month, US Fintech giant VISA also said that it aims to launch VISA Crypto API, an application that will allow its customers to deal in digital assets. ” It will let clients easily connect into the infrastructure provided by Visa’s partner, Anchorage, a federally chartered digital asset bank, to allow their customers to buy and sell digital assets such as bitcoin as an investment within their existing consumer experiences,” it had said in a statement.

(The above story first appeared on Morning Tidings on Mar 31, 2021 09:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).