Goldman Sachs announces its first Bitcoin-backed credit facility

Goldman Sachs announced its first line of credits backed by Bitcoin (BTC). These are cash loans, which customers acquire by leaving part of their cryptocurrencies as collateral.

The initiative of this American bank represents a big step in crypto adoption in wall street, given the prestige of the firm and its influence in the financial market. In addition, the bank has just negotiated its first over-the-counter options for Bitcoin last month after having formed its own team dedicated to digital assets.

Several representatives of crypto ecosystem They welcomed the bank’s new initiative and believe it will be a significant boost for the growth of crypto services in firms linked to the traditional financial system.

“Goldman Sachs successfully offered its first bitcoin-backed loan. Eventually all banks will,” crypto commentator Anthony Pompliano wrote on his Twitter account.

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