The secured lending facility lent cash collateralized by Bitcoin owned by the borrower, a spokeswoman for the bank said. The deal was interesting to Goldman because of its structure and 24-hour risk management.
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Goldman offers its first bitcoin-backed loan in crypto push
Some of the crypto-related products and services already offered by Wall Street include wealth management, trading and investment banking. Lending to companies that provide virtual currencies as collateral is the next step, Damien Vanderwilt, co-president of Galaxy Digital Holdings, recently said.
