Global investment bank Goldman Sachs has reportedly offered its first-ever loan backed by cryptocurrency. The cash loan was collateralized by bitcoin owned by the borrower. A spokesperson for Goldman Sachs explained that the deal is interesting to the investment bank due to its structure and 24-hour risk management.
Global investment bank Goldman Sachs has offered its first-ever cash loan backed by bitcoin (BTC), Bloomberg reported Thursday.
A spokeswoman for the bank explained to the publication that the secured lending facility lent cash collateralized by bitcoin that is owned by the borrower. She further noted that the deal was interesting to Goldman Sachs because of its structure and 24-hour risk management.
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