The trading unit of Galaxy Digital Holdings (Galaxy Digital), a global provider of blockchain and cryptocurrency financial services for institutions, has facilitated and executed the first OTC crypto transaction with Goldman Sachs Group in the form of a Bitcoin non-deliverable option (NDO).
This marks the first OTC crypto transaction by a major bank in the US, as Goldman Sachs continues expanding its cryptocurrency offerings, demonstrating the continued maturation and adoption of digital assets by banking institutions.
It also represents a continuation of the Bank’s partnership with Galaxy Digital to deepen its crypto capabilities, which included facilitating the Bank’s first CME Group Inc. Bitcoin futures transaction last year.
Galaxy’s trading platform provides liquidity in over 100 digital assets, with a consistent focus on the expanding needs of its counterparties in the digital assets sector. Galaxy works with over 690 institutional trading counterparties and added 43 new relationships in the third quarter of last year.
