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New York's Bloomberg newspaper recently reported that multinational investment bank Goldman Sachs and several other Financial Groups on Wall Street are doing more research to provide and offer new direct bilateral options to cryptocurrency customers, predicting the deepening entry of the big players in the banking and finance industry, create more opportunities for cryptocurrency derivatives trading organizations.
The bilateral right allows organizations and individuals currently holding cryptocurrencies and miners to make custom transactions in order to hedge risks or increase profits.
Currently, the market for these options has not been heavily exploited and remains dependent and dominated by companies with the original starting point advantage of cryptocurrencies such as Genesis Global Trading Inc., Galaxy Digital Holdings Ltd. and GSR. and even traditional trading giant DRW Holdings LLC. It is also a liquidity provider.
Other Wall Street banks are now open to the crypto pie due to concerns about regulatory uncertainty, internal processes and customer identity verification (KYC) rules. Goldman is proposing options in futures trading in Bitcoin and Ether. Last year, the bank launched a non-forward futures trading service, a Derivative tied to the bitcoin price and cash payments.
"The bank has begun to see the demand for derivatives-style hedging and that the growth of the options market will be the next step." Andrei Kazantsev, Goldman's global head of cryptocurrency trading, revealed during a conference in December hosted by CoinDesk. In his words, Goldman provides liquidity and a willingness to take risks on behalf of clients to facilitate larger transactions.
