Saturday, May 21, 2022

Goldman Sachs and other Wall Street banks exploring Bitcoin-backed loans

Must Read

Solana : Is its 34.5% rally enough to fend off possible flippening with LUNA As another week draws to a...

Skechers is Stepping into Metaverse!

After Nike and Adidas, Skechers is also stepping into the world of the metaverse. According to the announcement, the...

Uniswap Deploys to Polygon as MATIC Hits All-Time High

The world’s most popular decentralized exchange has just been turbocharged with deployment on Ethereum layer 2 aggregator Polygon. In an...

Several top United States banks, including Goldman Sachs, are reportedly exploring using Bitcoin as collateral for offering loans to institutions.

Under the plan, the participating banks will not engage in cryptocurrency spot markets but will mainly focus on products such as futures and other synthetic crypto offerings, three people privy to the plan told CoinDesk.

“We’ve probably spoken to half a dozen big banks about [bitcoin-backed loans]. Some of them are in the next three to six months category, and some are further out. What’s interesting is some of these banks will use their own balance sheet to make the loan. Others will syndicate this out,” said one of the sources. 

According to the sources, the product could be realized in three to six months. 

Basically, the plan aims to borrow a leaf from tri-party repo type arrangements where money is borrowed through the sale of securities to repurchase them later through a third-party agent. 

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Solana : Is its 34.5% rally enough to fend off possible flippening with LUNA As another week draws to a...

Skechers is Stepping into Metaverse!

After Nike and Adidas, Skechers is also stepping into the world of the metaverse. According to the announcement, the big brand will open a...

Uniswap Deploys to Polygon as MATIC Hits All-Time High

The world’s most popular decentralized exchange has just been turbocharged with deployment on Ethereum layer 2 aggregator Polygon. In an announcement on Dec. 22, Uniswap...

Chinese Companies are Competing in the ‘Metaverse’ Brand Race!

Despite the People's Bank of China's (PBOC) recent warning about the 'metaverse' and NFTs, many Chinese companies have filed for metaverse trademarks. At a meeting...

Don’t expect retail sell-off to crash Bitcoin price

Those expecting another Bitcoin (BTC) speculative price dip are looking in the wrong place, one of the industry’s best-known analysts suggested. In a Twitter discussion...
- Advertisement -

More Articles Like This

- Advertisement -