Goldman Sachs Taps JPMorgan’s Private Blockchain for Repo Trade: Report
“We firmly think this will change the nature of the intraday marketplace,” said Mathew McDermott, head of digital assets for Goldman.
Running on JPMorgan’s Onyx blockchain, it was the first cross-border CBDC transaction to use automated-market-making smart contracts.
Kraken is disputing the premise that a wave of GBTC shares hitting the secondary market will drive the price of bitcoin lower.
JPMorgan will let wealth management clients invest in Grayscale and Osprey crypto trusts.
Investors who locked in borrowed coins will need to repurchase those to repay the loan, cryptocurrency pundits say.
Bitcoin Trust shares bought in January are unlocked next month, and the incentive to reinvest is relatively low.