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Goldman Sachs Group Inc (NYSE:GS) Planning a Custody Service for Crypto Funds



Goldman Sachs

According to anonymous reports, Goldman Sachs Group Inc (NYSE:GS) might soon come up with a new custody service for crypto funds, moving beyond BTC futures.

Crypto funds custody service rumors not denied

Goldman Sachs is one of the biggest and best-known banks around the world. It was skeptical of cryptocurrencies until recently, but the new management has said to have brought a new attitude towards digital currencies as well. Now, sources familiar with bank’s plans claim that Goldman might soon come up with a new custody service for crypto funds. Unfortunately, the bank’s spokesperson did not confirm this, but the rumors were not denied either.

Establishing custody service like this would represent a very big achievement for the crypto world. Securities would be held by the bank and on behalf of the funds. That would increase the clients’ trust, and lower the risks of them trying to find protection from losing their funds in rogue attacks.

As for Goldman’s spokesman, he was only willing to say that the bank continues to explore the crypto space. They are doing so due to a large amount of interest in cryptos that is coming from their customers, and the bank’s goal is to meet the clients’ requirements. Additionally, the spokesman also said that no conclusion or big decision regarding the digital asset offering has been reached as of yet.

This effectively limits the bank’s offering to only Bitcoin (BTC) futures, at least for the time being.

Goldman Sachs under new management

Several weeks ago, reports confirmed that Goldman Sachs is about to get a new CEO, David Solomon. Solomon is to replace Lloyd Blankfein, who served as a CEO up to now. The shift in management is expected to have large consequences, especially when Solomon’s crypto-friendly attitude is taken into consideration. Lloyd Blankfein was not nearly as open and welcoming to cryptos. At one point during 2017, he even stated that cryptos do not feel like a store of value, due to their often fluctuations. On that occasion, Blankfein stated Goldman is not ready to provide a Bitcoin strategy, and that it is way too early for that.

However, the bank seems to have completely changed its views on the topic, now that Solomon is in charge. Back in June, while he was still the bank’s COO, Solomon stated that Goldman is looking into new offers regarding cryptocurrencies. Due to the increase in demand, the bank decided that they should at least look into the matter and try to decide where to go next from there.

The bank recognized that it needed to evolve and improve its business, as well as to adapt to the new environment. And, while the bank has only been taking baby steps towards working with cryptos, the new development is still there. However, this still doesn’t mean that a trading desk will be established anytime soon.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?



2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata



Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub ( will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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