Goldman Sachs and other financial institutions search wall for Bitcoin-based loans

According to our sources, Goldman Sachs, one of the first banks in the United States, is considering offering loans to schools that use Bitcoin as a business enterprise.

Banks like Goldman Sachs are not exposed to the cryptocurrency market and prefer cryptocurrency services as such in the future. By tracking a third-party buyout (selling securities, agreeing to buy back, and borrowing money from a third-party agent), banks are looking to use Bitcoin as contactless loans with Bitcoin Cash.

According to the basis of the CoinDesk interview, this is an opportunity to lay the groundwork for the best future cryptocurrency operator in first person. It's also a continuation of Wall Street's current $ 2.7 trillion holding in the asset class.

“Goldman Sachs is working hard to secure loans and repurchases of securities,” a source said.

According to reports, Goldman Sachs declined to comment.

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Coincidentally, many large banks are still following the lead set by crypto-friendly banks Silvergate and Signed, which announced earlier this year that they would repay their Bitcoin collateral loans.

A second person familiar with the big business situation said, "We may have talked to the big bank about bitcoin backed loans." “Some plans are on us for the next six months and some are far away. Interestingly, some of these banks use their own balance sheets to lend, while others choose different options.

The idea of ​​banks based on bitcoin as a commodity was half-approved during the US government days ago when the head of the Treasury Department (OCC) said bitcoin is money. liquid and the bank is in charge.

However, the American task of managing these operations remains difficult. Depending on the bank's situation and the specific agreement, it may be overseen by several agencies, such as the US Central Bank, the Securities and Exchange Commission (SEC), or the Securities and Exchange Commission Commodity Sale (CFTC) .

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Coinbase and Fidelity Digital Assets are considered potential investors that these banks discuss. (Coinbase already offers financial solutions in its Prime product, but it will be an addition).

Coinbase declined to comment. Fidelity Digital Assets did not respond to a request for comment.

In addition to large banks, many smaller lenders may also decide to accept cryptocurrencies as commodities.

A third-party expert on the matter said: “Small and medium-sized banks also operate in this area of ​​loans to third parties.