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Goldman Sachs offers bitcoin-backed loan: Bloomberg

Goldman Sachs has reportedly offered its first loan facility backed by bitcoin.

The cash loan was offered with bitcoin as collateral, a spokesperson for the bank told Bloomberg.

Per the report, Goldman was interested in the deal because of how it was structured and the 24-hour risk management.

Like other firms in the traditional finance space, the banking giant has been making strides into the crypto world recently.

Last month, Goldman offered its first-ever over-the-counter crypto transaction in the form of a bitcoin non-deliverable option and a recent report said that it was gearing up to offer over-the-counter ETH options.

The company is also reportedly looking to strengthen ties to FTX, as the exchange giant navigates US regulations. It participated in a funding round for blockchain security firm CertiK.