Goldman Sachs is allowing few of its clients to sign up for its future crypto products, according to reports.
The New York investment bank plans to roll out its bitcoin non-deliverable future contracts (NDF), a derivative product pegged to futures. Ideally, the service should allow an investor/borrower to take a short-term position in Bitcoin even though the government may not allow exchanges. The investor/borrower uses the foreign currency, but any foreign exchange gain or loss should be paid in Bitcoin. The service could lead corporates seeking to hedge exposure to foreign currencies whose use is limited or restricted in the domestic markets – this time using Bitcoin, not the dollar.