John Waldron, the chief operating officer (COO) of Goldman Sachs, says the financial services giant is seeing increasing customer demand to own and invest in bitcoin. Even so, the COO stated that his organization is still looking for ways to meet this demand without violating regulators.
“How banks should be regulated when dealing with digital money”
In a remark made during an interview, Waldron, who is also president of the banking giant, added that Goldman Sachs “is discussing with regulators and central banks how banks should be regulated when dealing with digital money.” Meanwhile, Waldron explained the financial giant’s unique approach to satisfying customer demand:
We are regulated what we can do. We keep evaluating it … and dealing with it.
In addition to exploring ways to meet growing consumer demand for crypto, the Reuters report reveals that “Goldman has also investigated a Bitcoin Exchange Traded Fund (ETF) and made a request for information to investigate the custody of digital assets. “
“Covid-19 pandemic is a major accelerator”
Meanwhile, Waldron is quoted in the same report explaining how the Covid-19 pandemic caused an “explosion in online commerce” and how that trend is unlikely to change in the future. He said:
The pandemic was a major accelerator. We have no question that there will be more digital commerce … and (use of) digital money.
However, while Waldron reveals Goldman Sachs’ cautious approach to crypto, recent reports suggest the banking giant has already restarted its “cryptocurrency trading desk”. In addition, the banking giant began “trading Bitcoin futures and non-deliverable futures for customers”.
Do you agree with Waldron’s claim that the use of digital currency will explode? You can let us know what you think in the comments section below.
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