Goldman Sachs becomes the first major U.S. bank to offer cash loans collateralized by Bitcoin.
The financial service giant has announced several crypto services so far this year in 2022 in a show of confidence in the industry.
On Thursday, April 28, Wall Street banking giant Goldman Sachs announced the launch of its first bitcoin-backed loan offering. This is the first significant step by any major U.S. bank that could accelerate further acceptance of crypto.
Thus, Bitcoin owners can now secure cash loans from Goldman Sachs by putting their BTC as collateral. A Goldman spokeswoman told Bloomberg that the deal was interesting due to its structure and 24-hour risk management.
This move will further bridge the gap between the traditional financial world and the crypto sector. Besides, it will encourage more banking institutions to join the crypto bandwagon.
This year in 2022, Goldman Sachs has been making a major move in the crypto space. During the last month of March 2022, the bankin
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