Since last year, rumors were flying that they will be launching their first digital asset trading desk. Reports were also saying that they would be hiring employees to work in the trading desk department, which would be run out of New York. However the rumors were debunked when it was revealed that Goldman Sachs already owned a crypto trading desk since 2015. Technically speaking, it is not a Goldman Sachs trading desk, and they are not the main shareholders. However, Goldman Sachs was one of the top investors that funded the startup at around $50 million. The company manages Circle Pay and Circle Trade. Circle Pay and Circle Trade offers liquidity for the crypto markets and handles over-the-counter transactions for large-scale institutions that make investments at a minimum of $250,000. According to statistics on Goldman Sachs’ website, they directly conduct trades of around $2 billion each month! Goldman Sachs next venture will be Circle Invest, which will offer investors commission free digital asset trading. We are excited to see what this market leader in investment banking can do for the future of the crypto market.
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