Goldman Sachs Partners With Coinbase For Bank’s First Bitcoin-Backed Loan

Reportedly, the loan facilitated by Goldman Sachs was its first lending facility backed by bitcoin.

While bitcoin-back loans are not entirely new, they are still very notable as it relates to traditional finance firms, such as Goldman Sachs.

At that time, the bank initiated a non-deliverable bitcoin option, which is a derivative of bitcoin that pays the borrower, in this case Goldman Sachs, in cash.

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