Goldman Sachs CEO says Cryptocurrencies are ‘Important to The Future Of Global Financial Systems’

2021-4-15 20:23

Goldman Sachs Chief Executive Officer David Solomon is talking about Bitcoin, and he is bullish on the trillion-dollar asset.

“I also want to touch on the topics of cryptocurrency blockchain and the digitization of money,” Solomon began during the bank’s earnings call Wednesday, saying:

“Central banks are looking at digital currencies, working to apply this technology to the local markets and determine the longer-term impact on global payment systems. Also significant focus on cryptocurrencies like Bitcoin, where the trajectory is less clear as market participants evaluate their possibility as a store of value.”

The investment banking giant beat the expectations with a record first-quarter net profit of $3.77 billion on the back of its strong investment banking and trading businesses. Revenue of $17.7 billion also topped expectations of $12.6 billion.

“We continue to look for ways to expand our capabilities to support our clients’ needs,” he said, adding that they still can’t trade Bitcoin on a principal basis.

But cryptocurrencies are “important to the future of global financial systems.”

Solomon further said they are “not focused on offering a crypto wallet” at the moment rather on the “institutional side” with respect to crypto payment systems.

Recently in an interview with CNBC, Solomon said he expects a major transformation in how the US government regulates Bitcoin and other crypto assets. “I think there'll be a big evolution as to how this evolves in the coming years,” he said last week.

While refusing to speculate on how things would go on the regulated front, he said, “we're going to continue to find ways to serve our clients as we move forward.”

In response to rising demand from its clients, Goldman Sachs reportedly starts offering its wealthy clients exposure to digital assets this quarter. Furthermore, they rebooted its bitcoin trading desk and filed for an ETF to provide indirect exposure to BTC by tracking the performance of the ARK Innovation ETF.

Bitcoin BTC $ 63 205.57 -0.13% Ethereum ETH $ 2 451.96 +7.01% Binance Coin BNB $ 544.05 -3.39% The post Goldman Sachs CEO says Cryptocurrencies are ‘Important to The Future Of Global Financial Systems’ first appeared on BitcoinExchangeGuide.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

V Systems (VSYS) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0018093
Капитализация $0 Rank 99999
Цена в час новости $ 0.0212563 (-100%)

systems global goldman crypto future financial ceo

Источник: bitcoinexchangeguide.com

systems global → Результатов: 126


China Sets the Stage for Central Bank Digital Currencies, Proposing Global Rules for Nations

China recently proposed a set of global guidelines on central bank digital currencies (CBDC) earlier this Thursday, discussing potential uses and implications of a sovereign digital currency. With the coronavirus pandemic exposing inefficiencies in traditional payment systems, there has been a growing need to digitize legacy financial infrastructure.

2021-3-26 11:28


APPS and Global Oculus piloting crypto payment infrastructure platform

CryptoNinjas » APPS and Global Oculus piloting crypto payment infrastructure platform Atlantic-Pacific Processing Systems (APPS), a white label SaaS payment processing and acquiring infrastructure platform, and Global Oculus, a blockchain and digital currency solution provider, today announced they have partnered to provide businesses with a real-time digital currency acceptance, clearing, and settlement solution.

2021-2-23 22:03


The Breakdown: Why U.S.’ $2 Trillion Stimulus, Unlimited QE Will Expose Monetary System’s Flaws

The U.S. government approved a $2 trillion stimulus package after the Federal Reserve pledged “unlimited” quantitative easing to stabilize the economy. CoinDesk’s chief content officer Michael Casey and head of research Noelle Acheson discuss how the ripple effects will expose flaws in global financial and monetary systems, whether this will bring massive inflation, and how […]

2020-7-18 16:56


Fear of Libra’s Stablecoin Replacing Domestic Currencies Is Greatly “Overstated:” Fed Reserve

Federal Reserve economists disclose that project Libra’s ability to disrupt economies may have significantly been “overestimated” and overstated by policymakers. The report released on Monday shut down the extremist's statements that the earlier version of one Libra stablecoin could replace the global economic systems as we know them today. The report arose from a prototype […]

2020-6-23 21:36


World Economic Forum to Tackle Corruption In Public Procurement Across Colombia Using Ethereum’s Blockchain

Global public procurement consists of over ten trillion dollars in expenditure but close to 10-30 percent of this money is swallowed up by corruption; something the WEF seeks to solve. The process offer tenders have switched from manual systems to a digital system to increase accountability, but certain loopholes still exist in the chain. The […]

2020-6-18 21:28


Bitcoin (BTC) Has A “Really Good Chance” Of Becoming A Global Reserve Currency, Analyst Says

Bitcoin (BTC) is increasingly gaining its fame as a favorable replacement to the current fiat backed monetary systems. One of the latest top personality to speak on the potential of BTC posing a threat to the current financial world is top selling author and financial analyst, Max Keiser. An interview by Max Keiser on RT […]

2020-6-15 18:27


Фото:

Deutsche Bank Envisions Post Covid-19 Economy Accelerating Digital Payments

Since the covid-19 outbreak wreaked havoc across the world’s economies, the global multinational investment bank Deutsche Bank has been encouraging the use of digital currencies. The firm’s Twitter account and macro strategist Marion Laboure have been tweeting regularly about how coronavirus infection risks could “accelerate digital payment systems across the world.

2020-4-8 09:30


Фото:

Hurry Up and Regulate Crypto, FSB Chair Urges World Leaders

The Financial Stability Board (FSB) is asking global finance ministers to step up their efforts in creating regulatory frameworks for crypto and other innovative digital payment systems. “Pressures That Can Lead to Market Fragmentation Exist” Crypto assets and their underlying blockchain technology have already disrupted the financial world to a great extent.

2020-2-20 18:20


OKEx’ Lennix Lai Makes Presence Felt at Davos, Roots for 100% Financial Inclusion with Blockchain

The changing landscape of the global economy due to the technological progress in the cryptocurrency and blockchain sector is not lost on anybody. As the countries of this world look at ways to embrace this technology without treading on the toes of the well-established financial systems, some of the industry leaders from the crypto space... The post appeared first on NewsBTC.

2020-1-23 16:04


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru