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As institutional interest in the crypto and decentralized finance (defi) space rises, prominent banks are increasingly responding to satisfy their clients’ demands. Goldman Sachs is one such example, having started giving its institutional trading clients research reports from The Block – a crypto news and data firm.
According to a CNBC article, Goldman Sachs’ institutional clients started receiving the research reports last Thursday via the bank’s Marquee platform – its digital marketplace for institutional investors. The bank said that the platform has over 50,000 active monthly users and allows its clients to access relevant data without having to call traditional sales people.
The first research report received by Goldman’s clients covered an overview of the various different decentralized finance Protocols on the Ethereum network.
This step by Goldman is a response to increased institutional demand for access to information on crypto and defi. The rapidly evolving space has garnered a large amount of attention in the last few months, with many prominent financial institutions, such as Morgan Stanley and Bank of America, recently having established crypto research desks. Goldman Sachs revamped its digital asset division last year and began trading bitcoin-linked products in May of this year, before now offering its institutional clients research reports on the space.
The Block CEO Michael McCaffrey told CNBC in an email that “Large financial institutions and technology companies have leveraged The Block’s suite of research and data services to more deeply understand the fast-growing market for digital assets for some time now”.
At DeFi Consulting Group, we specialize in consulting family offices and other regulated institutions on navigating the Digital Assets and Decentralized Finance space. Reach out to our team for guidance on how to effectively approach this field.
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