Goldman Sachs, Michael Novogratz to Create $1 Trillion Crypto Wallet With BitGo

American investment bank Goldman Sachs Group Inc (NYSE:GS). and Galaxy Digital Ventures, a venture capital fund founded by one of its previous partners, cryptocurrency believer and billionaire Mike Novogratz, have invested in BitGo Holdings Inc., the world’s largest processor of on-chain Bitcoin transactions.

The move by Goldman Sachs’ Principal Strategic Investments group aims to satisfy demand from its high-net-worth clients who are looking for better ways to secure their digital asset portfolios, according to a report.

BitGo CEO Mike Belshe stated:

“This strategic investment from Galaxy Digital Ventures and Goldman Sachs validates both our market opportunity and unique position. No one is better positioned than BitGo to serve institutional investors who want to trade cryptocurrencies …

This article appeared first on Cryptovest

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