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Goldman Sachs to enter Cryptocurrency Market

It will trade Bitcoin futures in a principal, market-making capacity and will also create non-deliverable forward products.

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It will trade Bitcoin futures in a principal, market-making capacity and will also create non-deliverable forward products.
Bitcoin, Pixabay

Don’t call Goldman Sachs Group Inc’s long-awaited Bitcoin-trading business a full-fledged desk, and don’t expect it to buy and sell bitcoins, at least at first.

The bank, preparing to pioneer a new cryptocurrency market on Wall Street, plans to start small and offer a limited number of derivatives, according to a person briefed on the decisions. It will trade Bitcoin futures in a principal, market-making capacity and will also create non-deliverable forward products.

Don’t call Goldman Sachs Group Inc’s long-awaited Bitcoin-trading business a full-fledged desk, and don’t expect it to buy and sell bitcoins, at least at first.
Goldman Sachs, Business Standard

Read also: Apple Leads Global Tablet Market, Samsung Second

Wall Street firms began offering clients futures from Cboe Global Markets Inc and CME Group Inc in December. But one issue with buying and selling actual bitcoins is that they can be stolen by hackers. That means any bank looking to facilitate those transactions will have to figure out how to guard such assets, a step that could require a nod from regulators.

Goldman Sachs already hired Justin Schmidt as head of digital asset markets to help clients gain exposure to cryptocurrencies. He will sit on the firm’s currency desk, a source said, discussing internal plans.

The New York Times reported on Thursday the bank’s decision to offer forward products, noting that the business will start in the next few weeks. (Business Standard)

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5G Smartphones Likely to Hit Market in April: Report

LG Electronics introduced its first 5G smartphone with a detachable secondary screen at the Mobile World Congress (MWC) Barcelona last month

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Latest technology of 5G
5G Technology.

Premium smartphones that run on a 5G network are expected to hit the market in April, a few weeks later than their original release schedule, due to problems with parts supply and test runs, industry sources have said.

Samsung Electronics Co. is expected to release its 5G version of the Galaxy S10 either early next month or in mid-April, with LG Electronics Inc also forecast to sell the V50 ThinQ that supports 5G networks around mid-April, according to the sources, yonhap news agency reported late on Monday.

Smartphone, 5G
5G to make way in Smartphone market in April. Pixabay

Samsung Electronics unveiled its latest flagship smartphone, the Galaxy S10, along with a 5G variant during its Unpacked events held simultaneously in San Francisco and London last month.

Also Read- Samsung Galaxy S10+: Another Great Android Flagship (Tech Review)

LG Electronics introduced its first 5G smartphone with a detachable secondary screen at the Mobile World Congress (MWC) Barcelona last month. (IANS)