Goldman Sachs Invest Millions into Crypto Venture

Investment banking giant, Goldman Sachs, revealed that it will bring other Wall Street whales into the crypto sector by investing millions into a new venture.

Silicon Valley-based startup BitGo, a fully regulated cryptocurrency custodian that offers multi signature wallets for investor security, has just seen another injection of wealth, as Goldman and cryptocurrency investment firm Galaxy Digital are investing a total $15 million.

This news comes out after a mix show of crypto acceptance on Wall Street, Barclay had announced that they are halting all crypto related projects and  Fidelity’s announcement into the world of cryptocurrency. Fidelity, the fourth largest asset manager in the world released the launch of a crypto trading desk and custody platform on October 15, 2018.

Rumors had surrounded Goldman Sachs, claiming that the firm would not enter the crypto ecosystem. However, they’ve stated that they have been working on a crypto trading desk of its own for months. The company has yet to reveal a launch date.

The heavily funded BitGo, offers custodianship over more than 75 coins and currently holds more than $2 billion in assets. The newly injected $15 million from Wall Street is added to the $70 million in venture capital BitGo has received from two rounds of funding.