Goldman Sachs COO: Client demand for cryptocurrencies is rising

Goldman Sachs’ chief operating officer, John Waldron, said that clients are showing growing interest in digital assets. Reuters reports.

According to the executive, the firm is exploring ways to meet client demand. However, the bank must comply with regulators’ rules, Waldron added.

“The pandemic has been a significant growth driver. There is no doubt that the e-commerce and digital-asset sectors will continue to grow,” said Goldman Sachs’ chief operating officer.

The bank is also weighing the possibility of launching a custody service and an exchange-traded fund (ETF) based on cryptocurrencies.

Waldron noted that Goldman Sachs representatives are already in talks with regulators and central banks about the rules for operating with digital assets.

In January, media reported that they were considering entering the cryptocurrency market. In particular, they were examining the possibility of launching a custody service for digital assets.

As previously reported, 40% of the bank’s clients own cryptocurrency. Of these, more than 60% expect asset growth over the next 12-24 months.

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