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

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  • Coinbase collateralized bitcoin for a cash loan with Goldman Sachs, the terms of which are currently undisclosed.
  • The loan was facilitated by Goldman Sachs in the bank’s first bitcoin-backed loan.
  • Goldman previously introduced itself to bitcoin through a non-deliverable bitcoin option facilitated by Galaxy Digital.

Coinbase, a well-known cryptocurrency exchange, has partnered with Goldman Sachs in the bank’s first bitcoin-backed loan, according to a report from Bloomberg.

Reportedly, the loan facilitated by Goldman Sachs was its first lending facility backed by bitcoin. Coinbase, the borrower, received an undisclosed amount of cash for an equally undisclosed amount of collateralized bitcoin.