Goldman Sachs to offer Bitcoin futures trading in partnership with Galaxy Digital

Goldman Sachs has debuted a Bitcoin (BTC) futures trading product for its client in collaboration with crypto investment giant Galaxy Digital. According to CNBC, the move marks the first time the Wall Street bank has partnered with a digital asset-based liquidity provider. Galaxy Digital co-president Damien Vanderwilt said the company offered a gateway to the crypto space allowing a tightly regulated entity like Goldman to offer crypto-related investment products. Goldman will reportedly be offering CME Group Bitcoin futures for its clients, marking another expansion of its recently established crypto trading…

Banking giant BBVA debuts Bitcoin trading and custody for Swiss clients

Banco Bilbao Vizcaya Argentaria (BBVA) — Spain’s second-largest bank — is set to offer Bitcoin (BTC) trading and custody services in Switzerland. According to a release issued on Friday, BBVA Switzerland will begin Bitcoin trading for all private banking clients interested in crypto assets from June 21. This initial crypto trading service isonly for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies. However, BBVA says its crypto trading desk will not include any digital asset investment advisory services. As part of the announcement,…

Goldman Sachs’ crypto trading desk expands to Ether

United States investment bank Goldman Sachs is planning to offer Ether (ETH) derivatives products in the coming months, setting the stage for wider adoption of the second-largest cryptocurrency and marking a significant departure from the institution’s critical stance on digital assets in the past.  Mathew McDermott, Goldman’s managing director of digital assets, confirmed Monday that the investment bank is expanding into Ether options and futures. In an interview with Bloomberg News, McDermott said institutional demand for cryptocurrencies will continue to grow despite the recent bout of market volatility: “Institutional adoption will…

Major US trading platform Interactive Brokers to offer cryptocurrency trading

United States foreign exchange company Interactive Brokers will offer direct cryptocurrency trading to clients within months, a report says. Speaking at the Piper Sandler Global Exchange & FinTech Conference on June 9, founder Thomas Peterffy revealed that the firm had opted to enter the crypto market. Demand fuels latest crypto uptake Quoted by CNBC, Peterffy hinted that client demand had been a major driver of the decision. “Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer,”…

Iranian president calls for legal framework for crypto trading

Iran is looking for ways to introduce a legal framework for cryptocurrencies while Bitcoin (BTC) mining remains under embargo in the country.  During the Cabinet’s Economic Coordination Board meeting on Tuesday, Iranian President Hassan Rouhani emphasized the need to legalize cryptocurrency activities to preserve and protect national interests. Rouhani said the country must pay attention to the legal and technical requirements regarding crypto and digital currencies. Noting the risks of cryptocurrency trading, Rouhani stressed that people’s awareness in this field is necessary to avoid unprofessional entries: “For legalizing the activity…

South Korea moves to ban cross trading for crypto exchanges

South Korea’s Financial Services Commission has moved to ban cross trading on crypto exchanges in the country. The move is part of a raft of amendments to the country’s Act on the Reporting and Use of Certain Financial Transaction Information. Cross trading, an illegal practice in many jurisdictions, involves offsetting buy and sell orders for the same asset (at the same price) without recording the transaction on the order book. However, according to a report by local media outlet Newsis, exchange operators in South Korea have bemoaned the planned prohibition…

Unsure about buying the dip? This key trading indicator makes it easier

When an asset enters a bear phase and the headlines are negative, analysts project further downside, and the sentiment shifts from optimism to pure gloom and doom. This results in panic gripped traders dumping their positions near the bottom of the downtrend instead of buying.  How can traders go against the herd and build the courage to buy in a bear market? It is not easy because if they purchase too early, the position may quickly turn into a loss. However, if they wait for too long, they may miss…

Major Philippine e-wallet GCash eyes crypto trading

GCash, a major digital wallet in the Philippines, is reportedly considering introducing crypto trading services. GCash CEO and president Martha Sazon announced that the firm is looking at offering users the ability to buy, sell and store cryptocurrencies like Bitcoin (BTC) on its platform. In a Monday interview with The Philippine Star, Sazon said that GCash is exploring cryptocurrency trading in order to keep up with financial innovation. “While we may be considered a disruptor now, it is important in this digital age that we should be mindful of all…

Russian central bank policies stop Tinkoff from offering crypto trading, CEO says

Tinkoff, a major private bank in Russia, is struggling to offer cryptocurrency trading to its clients due to the central bank’s tough stance on digital assets. Tinkoff CEO Oliver Hughes said that the digital bank is willing to offer crypto trading services but is restrained by the Bank of Russia’s policies, CNBC reports. The executive announced the news at the Saint Petersburg International Economic Forum on Thursday, stating: “There’s no mechanism for us to offer that product to them in Russia at the moment because the central bank has got…

Coinbase rival Kraken launches mobile crypto trading in US

Major global cryptocurrency exchange Kraken has launched a mobile crypto trading application in a new move to boost industry adoption in the United States. The company announced Wednesday that its new app is now available for most of the United States as well as other countries around the world for both iOS and Android users. The app allows users to trade more than 50 cryptocurrencies like Bitcoin (BTC) and Ether (ETH) via smartphones. The move follows a rollout of the Kraken mobile app in Europe this January. “This consumer app…