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Goldman Sachs Partners With Coinbase For Bank’s First Bitcoin-Backed Loan
Bitcoin News now admin /

  • Coinbase is set to collateralize bitcoin for a cash loan, the terms of which are currently undisclosed.
  • The loan will be facilitated by Goldman Sachs in the bank’s first bitcoin-backed loan.
  • Goldman previously introduced itself to bitcoin through a non-deliverable bitcoin option facilitated by Galaxy Digital.

Coinbase, a well-known cryptocurrency exchange, has partnered with Goldman Sachs in the bank’s first bitcoin-backed loan, according to a report from Bloomberg.

Reportedly, the loan facilitated by Goldman Sachs will be its first lending facility backed by bitcoin. Coinbase, the borrower, will receive an undisclosed amount of cash for an equally undisclosed amount of collateralized bitcoin.

The source bitcoinmagazine