Goldman Sachs has been seeing more demand for bitcoin among its clients, according to its president and chief operating officer.
In a report by Reuters on Wednesday, John Waldron said that, while Goldman was "regulated" on what it could do, the bank continues to "evaluate" bitcoin and "engage" with clients.
"Demand is rising," said Waldron, who is also Goldman's bank president.
The comments come as the bank relaunched its cryptocurrency trading desk with the intention of supporting futures trading for bitcoin, three years after shelving plans to do so.
The move also opens the possibility for Goldman to pursue a bitcoin exchange-traded fund as it strengthens its push into digital assets. Meanwhile, the multinational investment bank has issued a request for information to explore digital asset custody, as CoinDesk previously reported.
Waldron said that while the bank can custody digital assets, it "can't principal" them and added Goldman was discussing with watchdogs how banks should be regulated in regards to digital currency, according to the report.
The executive also said Goldman believes online commerce spurred by coronavirus pandemic-related buying will continue and cause an "explosion" in the use of digital currency.
“There is no question in our mind there will be more digital commerce … and [use of] digital money.”
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.