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Goldman Sachs will soon start trading cryptocurrencies (GS)

This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.Investment banking giant Goldman Sachs will have a cryptocurrency trading desk up and running by June 2018, according to sources quoted by Bloomberg. Goldman is currently hiring a team in New York and getting to grips with fundamental issues like how it will custody the relevant assets, the sources added. The bank confirmed that it’s exploring ways in which it can meet client demand for access to cryptocurrencies.The bank is an early mover in the cryptocurrency space. Goldman Sachs is one of the few large banks clearing the Bitcoin futures offered by the US-based Cboe and CME exchanges. Other banks, including JPMorgan Chase and Citigroup, held off doing so, likely over concerns related to the volatility of the underlying asset and security.That said, Goldman is asking some clients to set aside money equal to the full value of Bitcoin futures trades before clearing them, according to Bloomberg, whereas margins on other futures contracts are typically no more than 15%. That shows the bank is aware of the higher risk associated with such products, and will be unlikely to rush into launching its new trading desk without cryptocurrency-specific processes in place.Goldman’s move will likely encourage more institutional investors to get involved with cryptocurrencies. Up until now, most investment in cryptocurrencies has come from retail investors, including via the new Bitcoin futures products. Goldman’s involvement will likely change that, as institutional investors will be more willing to participate in the market via an incumbent financial institution. In turn, that will likely encourage other banks to open their own trading desks, so as not to miss out on what could be a lucrative opportunity.Sarah Kocianski, senior research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on blockchain in banking that:Outlines banks' experiments with blockchain technology. Details blockchain projects at three major banks — UBS, Credit Suisse, and Banco Santander — based on in-depth interviews. Discusses the likely trends that will emerge in the technology over the next several years.Highlights the factors that will be critical to the success of banks implementing blockchain-based solutions.Interested in getting the full report? Here are two ways to access it:Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More NowPurchase & download the full report from our research store. >> Purchase & Download NowJoin the conversation about this story »

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>> Bildauswahl durch die BSNgine, zum Originalzusammenhang

Apple - iPhone X, das war wohl nix

So richtig rund läuft es für Apple nicht. Das Premiumhandy iPhone X verkauft sich längst nicht so gut wie gedacht. Und das ist nicht die einzige schlechte Nachricht von Apple. Das schlägt an der Börse Wellen.

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