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Goldman Sachs, a top global investment banking firm, has just issued a request for information (RFI). According to one bank’s source, this RFI is issued by the firm to explore digital asset custody, which might be evident anytime soon.
This step by Goldman Sachs seems to be quite similar to JPMorgan as it has also issued an RFI on crypto custody in October 2020. Goldman took this step to widely explore digital asset custody and decide on its next step.
Goldman Sachs Took this Step for Broad Digital Strategy
The action by Goldman Sachs of issuing RFI to explore digital asset custody is considered as a part of its broad digital strategy. A lot of things are happening in the crypto space, and this week has caused some major changes. Anchorage, a San Francisco-based firm, has received conditional approval from the Office of the Comptroller of the Currency (OCC), to become a national digital bank. Along with this, it has also become a qualified custodian in the crypto market. Diogo Mónica, president at Anchorage, has said that after this approval, it will be able to attract all the large institutional players in the crypto space.
Top U.S. Banks Getting Involved in Crypto Custody
Mónica was asked about the relation of the top U.S. banks like Goldman Sachs, Citi, and JPMorgan with crypto custody. He said that their firm is in talks with all these banks regarding this. Some reports are even claiming that Goldman Sachs might be offering some prime brokerage services that also involve crypto. However, a bank’s source has claimed that the bank is only focusing on custody and not any prime brokerage. The firms that are currently focusing on prime brokerage services in the crypto space include BitGo, Anchorage, and Coinbase. Goldman is not in this league at the moment.