One of the world’s largest investment banks, Goldman Sachs, is exploring the possibility of launching its own custodian service to store digital assets, according to an anonymous source.
An anonymous source at Goldman Sachs told the industrial media that the bank has initiated an information request to explore the possibility of storing digital assets. According to him, the bank’s plans “will soon become widely known.” A request was sent to at least one well-known player in the crypto asset custody industry at the end of 2020.
“Like JPMorgan, we have issued an information request for digital asset holding. We are looking into this initiative extensively and deciding what to do next, ”said a source at Goldman Sachs, who asked to remain anonymous.
The insider said the bank’s digital asset storage initiative is “part of a broader digital strategy.” He cited a clarification for US banks issued by the Office of the Comptroller of the United States of America (OCC) last September, allowing banks to hold money to back up stablecoins.
In addition, cryptocurrency firm Anchorage became the first company last week to receive an OCC license to launch a digital bank in the US at the federal level. Anchorage President Diogo Monica said in an interview that the regulatory approval will increase the interest of many large and risk-averse institutional players in cryptocurrency.
When asked about JPMorgan, Goldman Sachs and Citi, the three major US banks that are most closely scrutinizing the issue of custodial custody of crypto assets, Monica replied that “the bank is communicating with them on this initiative.”
Earlier it was speculated that Goldman Sachs could launch primary brokerage services using cryptocurrency. However, a Goldman Sachs insider said the bank is only considering the possibility of holding digital assets.
“Anchorage, BitGo and Coinbase have some pretty ambitious plans for primary cryptocurrency brokerage, and we are not going to duplicate them,” he said.
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