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Banking Giants Goldman Sachs and Citi Warm Up to Offering Bitcoin (BTC) Services

Looking at Bitcoin’s indomitable rise, traditional banking institutions have been compelled to offer Bitcoin services to their clients. America’s two banking giant’s Goldman Sachs and Citi Group have announced offering Bitcoin derivative products and custodial solutions to its users.
As Bloomberg announced, Goldman Sachs is all set to offer Bitcoin derivatives to Wall Street investors. The banking giant has opened up trading of non-deliverable forwards (NDFs), a derivative product tied to the Bitcoin (BTC) price.
As per the announcement, Goldman shields itself from the massive BTC price volatility by buying and selling CME Bitcoin futures in block trades in partnership with Cumberland DRW. Speaking to Bloomberg, Max Minton, Goldman’s Asia-Pacific head of digital assets said:
“Institutional demand continues to grow significantly in this space, and being able to work with partners like Cumberland will help us expand our capabilities. The new offering is “paving the way for us

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