In the field of digital finance, Goldman Sachs, as a financial giant, recently announced the launch of a cryptocurrency trading desk, causing market shocks. This move means that cash-settled Bitcoin NDF and CME futures trading will usher in new development opportunities. Goldman Sachs' cryptocurrency trading desk has opened a new era of digital finance. Let us explore this important event in depth.

As a leading company in the financial field, Goldman Sachs has always been at the forefront of financial innovation. Recently, Goldman Sachs announced the launch of a cryptocurrency trading desk, which means that the company will begin cash-settled Bitcoin NDF and CME futures trading. This news caused a huge sensation in the financial market, and investors have paid attention to the trends in this emerging field. How will Goldman Sachs' cryptocurrency trading desk affect the trend of the digital financial market? Let's analyze it in depth from multiple angles.

First, let's see why Goldman Sachs chose to launch a cryptocurrency trading desk at this time. With the rapid development of the cryptocurrency market, more and more institutional investors have begun to pay attention to this field. As one of the most well-known cryptocurrencies, Bitcoin has huge price fluctuations and huge market potential. Goldman Sachs has seen this opportunity and hopes to enter this market through a cryptocurrency trading desk to provide customers with more diversified investment options. This is also a reflection of Goldman Sachs' active embrace of digital finance, showing its leading position in the field of financial technology.

Secondly, how will cash-settled Bitcoin NDF and CME futures trading change the digital financial market landscape? Cash-settled Bitcoin NDF is a forward contract without physical delivery, and investors can make profits through cash settlement. CME futures trading is Bitcoin futures trading conducted on the Chicago Mercantile Exchange. Through this platform, investors can conduct leveraged trading and obtain higher returns. Goldman Sachs' cryptocurrency trading desk will provide investors with a more convenient trading channel and promote market liquidity and activity.

Furthermore, Goldman Sachs's move will have an impact on the digital financial market that is not limited to the transaction itself. As more traditional financial institutions get involved in the field of cryptocurrency, the legal status and regulatory issues of digital assets will also become important issues. The opening of Goldman Sachs' cryptocurrency trading desk will further promote the regulation and standardization of the digital financial market and lay the foundation for the healthy development of the entire industry.

In addition, Goldman Sachs' cryptocurrency trading desk will also provide investors with more investment options and risk management tools. With the continuous development of the financial market, investors' demand for diversified investment portfolios is increasing. Through cash-settled Bitcoin NDF and CME futures trading, investors can better diversify risks and obtain more stable returns. As a leading company in financial services, Goldman Sachs' cryptocurrency trading desk will provide investors with more comprehensive financial services to meet different investment needs.

In summary, the launch of Goldman Sachs' cryptocurrency trading desk will bring new opportunities and challenges to the digital financial market. Investors can participate in this emerging field through cash-settled Bitcoin NDF and CME futures trading to obtain more investment returns. As a leading company in the field of financial technology, the opening of Goldman Sachs' cryptocurrency trading desk will promote the development of the digital financial market and provide investors with more diversified financial services. Let us look forward to the future of the digital financial field, seize opportunities and meet challenges!

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According to a report by foreign media CNBC yesterday (7), the memo issued by the world's largest investment bank Goldman Sachs to internal employees the day before yesterday showed that the bank's newly established cryptocurrency team has successfully traded two Bitcoin-related derivatives. The text reads: "As part of the initial launch, we have successfully executed Bitcoin NDFs and principal-based Chicago Mercantile Exchange (CME) BTC futures transactions, all settled in cash. Looking ahead, while we continue to expand our market share in a restrained manner, we are still selectively adding new liquidity providers to help us expand our product range." 

And Goldman Sachs has launched a new platform digital asset dashboard on the 5th to provide customers with the latest cryptocurrency prices and news. Finally, it is specially reminded that Goldman Sachs is currently unable to trade physical Bitcoin, Ethereum (ETH) or any cryptocurrency. 

According to the document information, the cryptocurrency team is affiliated with Goldman Sachs' Global Currency and Emerging Markets Division (GCEM) and reports to Goldman Sachs partner Rajesh Venkataramani, who is also the author of this memo. 

CNBC pointed out that this memorandum was the first time that Goldman Sachs officially admitted that it was involved in cryptocurrency trading.

Goldman Sachs deploys cryptocurrency

The NDF (non-deliverable forward foreign exchange) mentioned in the memorandum is the new product that Goldman Sachs announced to open to customers yesterday. It is a derivative contract linked to the price of Bitcoin and settled in cash, that is, it does not deliver Bitcoin spot and is an indirect investment tool.

NDF itself is a forward foreign exchange product with hedging function and high speculation. When the NDF contract expires, the two parties to the transaction only deliver the difference between the agreed forward exchange rate and the current exchange rate at maturity.

And this news is not surprising, because in early March, an insider revealed to Reuters that Goldman Sachs intends to restart the cryptocurrency trading team that has been closed for three years.

However, not everyone thinks that the revival of Goldman Sachs' encryption team is good news. Foreign media CoinTelegraph quoted a tweet from senior futures and foreign exchange trader Peter Brandt today, pointing out that after Goldman Sachs established the team at the end of 2017, the price of Bitcoin has been falling all the way: "My old friends have learned that whenever Goldman Sachs enters the market, it is time to protect your funds."