(Galaxy Digital Holdings) US banking giant Goldman Sachs has completed its first over-the-counter crypto-related trade onboard Galaxy Digital.
The US bank traded a bitcoin-lined instrument referred to as a non-deliverable option in its latest foray into the nascent digital assets related derivatives market.
The transaction marks the first expansion by a major Wall Street bank to expand crypto offerings, with Galaxy saying it is a demonstration of the continued maturity of digital assets.
The partnership with Galaxy Digital for the new product has been viewed as a sign of a growing relationship between the two entities. In June, Galaxy said that it would serve as the liquidity provider for the US bank.
Goldman is now touted as a first mover into the uncharted world of crypto-linked derivatives, with hedge funds eyeing exposure into the sector. The market for derivatives is currently dominated by crypto-native companies that include Galaxy, GSR Markets, and Genesis.
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