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Goldman Offers Its First Bitcoin-Backed Loan in Crypto Push

  • Secured lending facility lent cash collateralized by Bitcoin
  • Move comes as Wall Street warms up to digital assets
    

    

Photographer: Angel Garcia/Bloomberg
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Goldman Sachs Group Inc. offered its first ever lending facility backed by Bitcoin, in a significant step for a major U.S. bank that accelerates Wall Street’s embrace of cryptocurrencies. 

The secured lending facility lent cash collateralized by Bitcoin owned by the borrower, a spokeswoman for the bank said. The deal was interesting to Goldman because of its structure and 24-hour risk management, she said in an email.