Goldman’s Crypto Plans on Hold Until Market is More Stable

There has been a lot of speculation about a crypto trading desk at Goldman Sachs in the last 18 months but the bank says it is not in the plans until the market becomes more stable; while speaking at the DTCC conference Goldman’s Co-Head of Securities, Martin Chavez, says government backing is a core consideration for the bank, “I wouldn’t forget that as I start thinking about digital currencies and somehow going around sovereign. You have to go back and read your Hobbes and remember that.”; he sees potential in the underlying technology and pegging crypto to the dollar; he also went on to say the U.S. is behind the rest of the world when it comes to the ability to move money between bank accounts, saying it still takes days when in other areas of the world it is near instantaneous. Source.