Galaxy Digital Provides Sophisticated
Liquidity Provision and Risk Management Capabilities
Galaxy Digital's Market Leading Sell Side
Trading Desk Offers Goldman Sachs Spot & Derivative OTC
Trading, Lending and Structured Products
NEW YORK, June 18, 2021 /CNW/ - Galaxy Digital Holdings
Ltd. (TSX: GLXY) ("Galaxy Digital" or "the Company"), a financial
services and investment management innovator in the digital asset,
cryptocurrency, and blockchain technology sectors, today announced
that it will serve as Goldman Sachs Group Inc.'s ("Goldman Sachs"
or "the Bank") liquidity provider for its Bitcoin futures block
trades on CME Group Inc. ("CME Group") as the bank expands its
cryptocurrency offering.
The addition of Galaxy as a liquidity provider follows Goldman
Sachs' successful execution of its first cryptocurrency trades and
formalized set-up of its bitcoin desk last week, two months after
the US bank announced that it would re-enter the cryptocurrency
market amidst growing demand from institutional
clients.
"Goldman's trust in us validates our institutional expertise and
the strength of what we're building here at Galaxy," said
Damien Vanderwilt, Co-President and
Head of Global Markets at Galaxy Digital. "We are proud to be a
strategic partner of Goldman and look forward to working with Max
and his team to meet the increasing demand from institutions and
pave the way to broader adoption of cryptocurrencies as an asset
class."
Galaxy Digital's trading platform is positioned to offer clients
access to deep and diverse liquidity on a principal basis on a
variety of centralized exchanges and OTC markets. The Company
maintains strong relationships with a broad range of spot and
futures exchanges, digital asset exchanges and custodians, and fiat
banking partners, which enables it to move capital and assets
around securely and efficiently to provide competitively priced
liquidity and achieve cross-market opportunities.
"Our goal is to equip our clients with best execution pricing
and secure access to the assets they want to trade," said
Max Minton, Head of Digital Assets
for Goldman Sachs' Asia-Pacific Division. "In 2021, this now
includes crypto, and we are pleased to have found a partner with a
broad range of liquidity venues and differentiated derivatives
capabilities spanning the cryptocurrency ecosystem to help fulfill
this goal."
Galaxy Digital Trading makes markets in over 90 digital assets,
with a consistent focus on the expanding needs of its
counterparties in the digital assets sector. Galaxy Digital
works with over 300 institutional trading counterparties and added
over 100 new relationships in Q1 2021 alone.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a
diversified financial services and investment management company in
the digital asset, cryptocurrency, and blockchain technology
sectors. Galaxy Digital's team has extensive experience spanning
investing, portfolio management, capital markets, venture capital,
asset management, and blockchain technology. Galaxy Digital
operates in the following businesses: Trading, Asset Management,
Principal Investments, Investment Banking, and Mining. Galaxy
Digital's CEO and Founder is Mike
Novogratz. The Company is headquartered in New York City, with offices in Chicago, San
Francisco, 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.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a
leading global financial institution that delivers a broad range of
financial services across investment banking, securities,
investment management and consumer banking to a large and
diversified client base that includes corporations, financial
institutions, governments, and individuals. Founded in 1869, the
firm is headquartered in New York
and maintains offices in all major financial centers around the
world.
Disclaimers
The TSX has neither approved nor
disapproved the contents of this press release.
SOURCE Galaxy Digital Holdings Ltd.