The over-the-counter crypto trade represents a step in the direction of institutional adoption for digital assets.
Major banks are leery of the risk associated with becoming a principal in OTC crypto trades, preferring to transact exchange-based products.
“We are pleased to have executed our first cash-settled crypto currency options trade with Galaxy,” Max Minton, Asia Pacific head of digital assets for Goldman Sachs, said in the press release. “This is an important development in our digital assets capabilities and for the broader evolution of the asset class.”