John Waldron, chief operating officer of Goldman Sachs, said in a recent interview with Reuters that customer demand for cryptocurrencies is growing.
Epidemic and crypto
He notes that the pandemic has significantly accelerated the pace of cryptocurrency adoption and is now expecting an “explosion” in crypto:
It gained significant momentum in the pandemic. There is no doubt that we will have more digital commerce and (use) of digital currencies on our minds.
One of Wall Street’s largest banks is currently trying to strike a balance between meeting this demand and following regulations:
We depend on what we can do. We continue to evaluate… and we take care of it.
Waldron also reveals that Goldman is currently in talks with regulatory agencies and central banks around the world on how to approach the nascent asset class.
Goldman has big plans for Bitcoin
Goldman Sachs began trading Bitcoin futures earlier this week after reopening the cryptocurrency trading desk.
The banking institution is looking for an exchange-traded fund (ETF) affiliated with Bitcoin and is also planning to offer a cryptocurrency custody service.