GLXY:CC - Crypto Corner Podcast 798: GS GLXY

Vancouver, Kelowna, Delta, BC - March 21, 2022 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.

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Stocks discussed: (NYSE:GS) (TSX:GLXY)

Goldman Sachs ( NYSE:GS ) has made the first OTC crypto transaction by a major U.S. bank, facilitated and executed by a trading unit of Galaxy Digital Holdings Ltd. ( TSX:GLXY ). The transactions took the form of a Bitcoin ( BTC ) non-deliverable option (NDO), according to the press release, and follows Goldman's first CME Group Inc. Bitcoin futures transaction last year. Damien Vanderwilt, Co-President, and Head of Global Markets at Galaxy Digital, commented:

"We are pleased to continue to strengthen our relationship with Goldman and expect the transaction to open the door for other banks considering OTC as a conduit for trading digital assets. Goldman's continuing trust in us is a testament to Galaxy's expertise and ability to meet the evolving demands by institutions as crypto solidifies itself as the fifth asset class."

Max Minton, Asia Pacific head of digital assets for Goldman Sachs, said:

"We are pleased to have executed our first cash-settled crypto currency options trade with Galaxy. This is an important development in our digital assets capabilities and for the broader evolution of the asset class."

BNN Bloomberg reports that "the vast majority of companies" in El Salvador "haven't used crypto for business," according to a survey from that country's Chamber of Commerce. Only 14 percent of those surveyed reported having transacted in Bitcoin since September, when El Salvador became the world's first country to recognize the flagship cryptocurrency as a legal tender. Despite this, the country's Finance Minister, Alejandro Zelaya, said "El Salvador is pressing ahead with plans to issue what would be the first state-backed Bitcoin bonds in the coming days."

However, Cointelegraph reports that the government of El Salvador has seemingly delayed these Bitcoin bonds - also called "volcano bonds" - which were meant to have launched by March 20. Fernando Nikoli?, marketing director at Blockstream - El Salvador's partner in the bond launch - said to Cointelegraph, regarding the new dates of the launch:

"EBB1 will simply be issued on the Liquid Network, which is operated by members geographically distributed all over the world. Blockstream serves only as a technology provider. So, whenever they are ready, they will be able to issue the bond on Liquid the same way anyone else can."

Sam Mowers, Investorideas

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