Goldman Sachs has reportedly offered its first loan facility backed by bitcoin.
The cash loan was offered with bitcoin as collateral, a spokesperson for the bank told Bloomberg.
Per the report, Goldman was interested in the deal because of how it was structured and the 24-hour risk management.
Like other firms in the traditional finance space, the banking giant has been making strides into the crypto world recently.
Last month, Goldman offered its first-ever over-the-counter crypto transaction in the form of a bitcoin non-deliverable option and a recent report said that it was gearing up to offer over-the-counter ETH options.
The company is also reportedly looking to strengthen ties to FTX, as the exchange giant navigates US regulations. It participated in a funding round for blockchain security firm CertiK.
Moura, Catarina. “Goldman Sachs Offers Bitcoin-Backed Loan: Bloomberg.” The Block, The Block, 28 Apr. 2022, https://www.theblockcrypto.com/linked/144238/goldman-sachs-offers-bitcoin-backed-loan-bloomberg