Banking giant Goldman Sachs is reportedly looking to offer crypto investment services to its wealthy clients in the coming months.
According to a new report from CNBC, the investment bank plans to soon add support for Bitcoin (BTC) and a “full spectrum” of other crypto assets due to high demand from its wealthy clients.
Says Mary Rich, the newly appointed head of digital assets for Goldman Sachs’ private wealth management arm:
“We’re working closely with teams across the business to find ways to provide private wealth clients with thoughtful and appropriate access to the ecosystem, and that’s something we’ll be offering in the near future…
There is a contingent of customers looking for it [cryptocurrencies] as a hedge against inflation, and the macro backdrop over the past year has certainly helped.
There’s also a large body of customers who feel like they’re in a sense sitting at the dawn of a new internet and are looking for ways to get involved in this space.”
Goldman Sachs Private Wealth Management is aimed at wealthy clients with a minimum investment of $25 million.
Currently, the bank is in the process of obtaining necessary approvals from state and federal regulators such as the U.S. Securities and Exchange Commission (SEC) and the New York Department of Financial Services to lawfully offer crypto services, sources with knowledge told CNBC.
If approved, Goldman Sachs would join US-based banking giant Morgan Stanley to offer BTC investment services to consumers.
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