Coinbase took out the first Bitcoin-backed loan from Goldman Sachs

A screenshot of a cell phone on a table Business

Coinbase took out the first Bitcoin-backed loan from Goldman Sachs

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- (BTC)-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 Sachs had been taken out by Coinbase as a way to deepen ties between the crypto and traditional finance (TradFi) world, with the head of Coinbase Institutional Brett Tejpaul stating that:

Rate article
( No ratings yet )
FORECRYPTO