Goldman Sachs (GS) has offered its first bitcoin-backed loan in the latest sign that Wall Street is moving further into crypto. Bloomberg first reported on the news.
- Goldman’s secured lending facility allowed a borrower to use bitcoin (BTC) as collateral for a cash loan.
- "We recently extended a secured lending facility where we lent fiat collateralized on BTC; BTC being owned by the borrower," a Goldman spokeswoman told CoinDesk in an email. "The interesting piece for us was the structure and the 24-7-365 day risk management."
- Goldman, which has a dedicated digital assets team, traded its first over-the-counter bitcoin options to Galaxy Digital last month.
- Earlier Thursday, news broke that private equity investment behemoth Apollo Global Management had hired former JPMorgan (JPM) executive Christine Moy to serve as its first head of digital assets strategy.
UPDATE (April 28, 21:33 UTC): Updated sourcing and added comments from Goldman Sachs.
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