Leading global financial services firm Goldman Sachs expands another service for crypto investors and traders as it considers massive potential in crypto in the future and looks to invest millions in the crypto and blockchain companies.
Goldman Sachs has expanded its Visual Structuring derivatives price discovery and trade idea generation tool into crypto, as per a press release. The firm has also added the tool for equities and precious metals trading, after launching the tool for FX in September.
Visual Structuring available through Goldman Sachs Marquee platform for institutional clients will offer intuitive derivatives price discovery for crypto traders and investors. It allows clients to assess price variations, assess scenarios, and run backtesting analysis, with real-time collaboration with colleagues. Additional features include use of machine learning technology, natural language inputs, and group sharing.
Chris Churchman, head of Goldman Sachs Marquee, said:
“It transforms the workflows of our clients in a revolutionary way that both saves them time and helps them make better decisions. Expanding cross asset was always the intention, and we are delighted to be able to add equities, crypto and precious metals so quickly after the initial launch.”
Goldman Sachs Marquee’s Visual Structuring tools will now be available on web and Android versions, in addition to the iOS version launched earlier.
Goldman Sachs Sees Rising Crypto Demand
With cryptocurency adoption rising rapidly, Goldman Sachs’s institutional clients seeking to invest in cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The bank continues to expand its footprint in the emerging cryptocurrency industry from trading the first block trade of Bitcoin futures in Asian markets to offering tools for better crypto investing.
Goldman Sachs traded a Bitcoin-linked instrument with crypto bank Galaxy Digital, announced launching the crypto classification system Datanomy to help classify coins and tokens, and plans to invest millions in crypto companies.
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