Goldman Sachs expands key service for crypto investors and traders

by Arthur · April 18, 2023

Leading global financial services firm Goldman Sachs is expanding 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, according to a press release. The firm has also added the tool for trading stocks and precious metals, after launching the tool for currency in September.

Visual structuring available through the Goldman Sachs Marquee platform for institutional clients will offer intuitive price discovery of derivatives for crypto traders and investors. It allows customers to assess price variations, assess scenarios and run backtesting analyses, with real-time collaboration with colleagues. Additional features include the use of machine learning technology, natural language input, 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-assets was always the intention, and we are pleased to be able to add stocks, cryptos and precious metals so quickly after that first launch.”

Goldman Sachs Marquee’s Visual Structuring tool will now be available on web and Android versions, in addition to the iOS version launched earlier.

Goldman Sachs sees growing demand for crypto

With cryptocurrency adoption increasing rapidly, Goldman Sachs’ institutional clients are 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 providing tools for better crypto investing.

Goldman Sachs traded a Bitcoin-related instrument with the crypto bank Galaxy Digital, announced the launch of the crypto classification system Datanomy to help classify coins and tokens, and plans to invest millions in crypto companies.

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Varinder Singh

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by Disruptive Technologies, he has shared his knowledge of Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a significant period of time and currently covers all the latest updates and developments in the crypto industry.