[Delio] Goldman Sachs Completed First Bitcoin Futures Transaction in Asia

The financial titan Goldman Sachs has executed the first block transaction of Bitcoin (BTC) futures in Asia through the mediation of GFI Securities LLC, a division of brokerage firm BGC Partners, crypto media Finbold reported on July 6.

According to the news announcement, Cumberland DRW LLC and Goldman Sachs collaborated to organize the first-ever intermediated block transaction of CME Group Bitcoin futures contracts in Asian marketplaces “to expand our cryptocurrency offering and work with our global counterparties in developing this rapidly evolving asset class.”

Earlier this year, Goldman Sachs has showed interest in integrating cryptocurrency into the business practices. The Wall Street giant, along with a number of other leading US banks, began investigating the use of Bitcoin as security for loans to institutions in December 2021, concentrating on futures and other synthetic cryptocurrency offers.

In this regard, the anticipation of expansion in the Bitcoin industry follows with the news stating that BGC planned to open voice-listed brokerage desks and electronic platforms in significant financial hubs to fully ‘use’ the cryptocurrency opportunities.

Source: FINBOLD

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