According to reports from Bloomberg and The Wall Street Journal, Goldman Sachs is exploring how it could help its clients trade bitcoin and other cryptocurrencies.
Goldman is reportedly in talks with cryptocurrency experts but has not yet come up with a business plan or timetable for implementing such a program. The bank has also not yet made any bitcoin-related investments.
“In response to client interest in digital currencies, we are exploring how best to serve them in the space,” said Tiffany Galvin, a spokeswoman for Goldman.
This is a far cry from Goldman’s competitor, JPMorgan Chase, whose CEO Jamie Dimon said just last month that bitcoin is a fraud and that he would fire on the spot any employee trading it for being “stupid.”
Other banks have been more open to the cryptocurrency trend. As an example, Morgan Stanley CEO James Gorman has said that bitcoin is more than just a fad, and former Goldman Sachs trader Mike Novogratz is starting a $500 million hedge fund focused on cryptocurrencies and initial coin offerings.