In recent news pertaining to cryptocurrency exchanges, it has been reported that Goldman Sachs is considering exploring custody and other services pertaining to cryptocurrencies; a South African exchange has introduced Tether pairings in the hopes of driving down the local premium on crypto prices through offering arbitrage opportunities to foreign traders; and Blockex has announced that Sublime Group has started operating as a market maker on its exchange.
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Goldman Sachs Exploring Crypto Custody Services
Bloomberg has reported that leading financial services company, Goldman Sachs Group Inc., is exploring cryptocurrency custody as a potential future product. According to “people familiar with the matter,” Bloomberg wrote that the firm “is considering a plan to offer custody for crypto funds.”
A spokesperson for Goldman Sachs stated: “In response to client interest in various digital products we are exploring how best to serve them in this space. At this point, we have not reached a conclusion on the scope of our digital asset offering.”
A lack of established custodians in providing cryptocurrency services has increasingly been perceived as a barrier to institutional investment into virtual currencies in recent discourse, with Blake Estes of Alston & Bird stating last month: “So much of the security of bitcoin and other cryptocurrency rests with who stores that private key, who controls the vault. Blockchain (the technology behind the transfer of assets) itself can’t be hacked, but it all still boils down to who ends up holding the keys. I’d tend to think that pension funds will not venture into uncharted territory until they’re certain about the security of who has custody of the keys.”
South African Exchange Launches Tether Pairings to Drive Down Local Price Premium
Johannesburg-based
