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Report: Goldman Sachs could launch cryptocurrency trading desk in 2018

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Report: Goldman Sachs could launch cryptocurrency trading desk in 2018

Goldman Sachs Group Inc. is building a cryptocurrency trading desk that could start running by the end of June 2018 or earlier, Bloomberg News reported Dec. 21, citing "people with knowledge of the strategy."

The trading desk could be housed within the company's fixed-income, currencies and commodities unit's systematic trading function, although no decision has been made yet on that front. The company is currently assembling a team in New York, according to the report.

Goldman Sachs is still working through security issues and deciding how to hold the assets, Bloomberg said.

Goldman Sachs spokesman Michael DuVally said the company is exploring how to serve clients who are interested in digital currencies.

The news came nearly a month after Goldman Sachs CEO Lloyd Blankfein said it is too soon for the company to have a bitcoin strategy.