Galaxy Digital's Market-Leading Trading
Platform Enables First-of-its-Kind Transaction by a Major
U.S. Bank
NEW
YORK, March 21, 2022 /CNW/ - Galaxy Digital
Holdings Ltd. (TSX: GLXY) ("Galaxy Digital" or "the Company"), the
pre-eminent global provider of blockchain and cryptocurrency
financial services for institutions, announced today that its
trading unit has facilitated and executed the first OTC crypto
transaction with Goldman Sachs Group Inc. ("Goldman Sachs" or "the
Bank") in the form of a Bitcoin non-deliverable option (NDO).
This marks the first OTC crypto transaction by a major bank in
the U.S., as Goldman Sachs continues expanding its cryptocurrency
offerings, demonstrating the continued maturation and adoption of
digital assets by banking institutions. It also represents a
continuation of the Bank's partnership with Galaxy Digital to
deepen its crypto capabilities, which included facilitating the
Bank's first CME Group Inc. Bitcoin futures transaction last
year.
"We are pleased to continue to strengthen our relationship with
Goldman and expect the transaction to open the door for other banks
considering OTC as a conduit for trading digital assets," said
Damien Vanderwilt, Co-President, and
Head of Global Markets at Galaxy Digital. "Goldman's continuing
trust in us is a testament to Galaxy's expertise and ability to
meet the evolving demands by institutions as crypto solidifies
itself as the fifth asset class."
Galaxy Digital's trading platform is wholly focused on the
rapidly expanding digital-asset market, offering clients deep,
diverse liquidity across a variety of centralized exchanges and OTC
markets. Through strong relationships with spot and future
exchanges, digital asset exchanges, custodians and fiat banking
partners, Galaxy has deep capabilities in moving capital and assets
securely and efficiently.
"We are pleased to have executed our first cash-settled crypto
currency options trade with Galaxy," said Max Minton, Asia
Pacific head of digital assets for Goldman Sachs. "This is
an important development in our digital assets capabilities and for
the broader evolution of the asset class."
Galaxy's trading platform provides liquidity in over 100 digital
assets, with a consistent focus on the expanding needs of its
counterparties in the digital assets sector. Galaxy works with over
690 institutional trading counterparties and added 43 new
relationships in the third quarter of last year.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a technology-driven
financial services and investment management firm that provides
institutions and direct clients with a full suite of financial
solutions spanning the digital assets ecosystem. Galaxy Digital
operates in the following businesses: Trading, Asset Management,
Investment Banking, Mining and Principal Investments. Galaxy
Digital's CEO and Founder is Mike
Novogratz. The Company is headquartered in New York City, with offices in Chicago, London, Amsterdam, Tokyo, Hong
Kong, the Cayman Islands
(registered office), and New
Jersey.
Additional information about the Company's businesses and
products is available on www.galaxydigital.io.
Disclaimers
The TSX has neither approved nor disapproved the contents of this
press release.
SOURCE Galaxy Digital Holdings Ltd.