Goldman Sachs opens door for Bitcoin custody services

Bitcoin (BTC) is no longer a dirty word in the world of banks. Goldman Sachs is seriously looking at options for bitcoin custody services. According to Coindesk, the plans will be announced soon.

Goldman Sachs is a large American investment bank. They focus mainly on offering financial services to companies and governments.

It seems that the Americans are getting ready to store BTC for their clients.
Requesting information
The bank started requesting information from various existing bitcoin custody companies in late 2020. Coindesk obtained additional information from a source: „Like JPMorgan, we are looking at digital custody services. We have yet to determine what the next step is.“

Goldman Sachs is not a smooth startup, it is a multi-billion dollar company where it takes a while for them to take action.

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Bitcoin Banks
Banks in America are gradually getting more space to offer bitcoin services. Recently, the Anchorage bank received conditional approval to serve as a national bank for digital assets.

Goldman Sachs also wants to come on board, according to the insider. The bitcoin services are part of a ‚broad digital strategy‘. The world is becoming digital, the world of finance actually already is, and you have to keep up. BTC is currently a popular topic, so people are seriously looking at ways to make money from it.

For now, the major US bank has little interest in the role of buyer/seller of bitcoin.

Bitcoin Custody
A bitcoin custody service allows customers to invest in bitcoin without having to manage the money themselves. It goes against the principles of bitcoin but at the same time the network offers freedom of choice.

Large companies and governments are not used to managing all their money and assets internally. Therefore they often look, also for BTC, for trusted parties who can do this.

Here are some of Goldman Sachs‘ news:

Can gold and Bitcoin co-exist? Goldman Sachs says it can
Bitcoin is the best asset ever‘, says this former Goldman Sachs manager
What are you smoking?“ asks Winklevoss to Goldman Sachs after discouraging Bitcoin