Wednesday 31 October 2018
According to a direct source, investment banking Goliath Goldman Sachs is launching Bitcoin derivatives, reports The Block. It has been confirmed that Goldman Sachs has been signing up a few select clients to its “Bitcoin non-deliverable forward contracts.” That’s fancy banker speak for a type of derivative. For the uninitiated, a derivative is a financial security, the value of which is derived from an underlying asset. Typically, derivatives are a type of futures contract between two parties to sell an asset once it reaches an agreed price. Unlike a futures contract though, derivatives are not traded on an exchange. Imagine…
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