Blockchain Bites: Goldman Sachs Investigates Crypto Custody, Solving the Blockchain ‘Trilemma’

Happy Martin Luther King Jr. Day to our U.S. readers! A former Canadian prime minister said bitcoin could become a global reserve currency, Goldman Sachs is reportedly looking to get into the crypto custody business and MetLife is bullish on CBDCs.

Top shelf

Goldman Sachs jumping in?
Its crypto custody plans will be “evident soon,” according to an internal source. CoinDesk’s Ian Allison reported the major investment bank has issued a request for information to explore digital asset custody, though it is not interested in becoming a prime broker. Last week crypto-native Anchorage attained conditional approval from the Office of the Comptroller of the Currency to become a national digital bank.

Updating the base
Coinbase, a bellwether for bull runs because the exchange is likely to go down during periods of heavy volatility, is updating its infrastructure to prevent outages. It will also bring on more customer support. Coinbase has sent smoke signals about going public this year, though it has not yet filed.

Digital “belt and road”
China’s Blockchain-based Service Network (BSN) – a permissioned blockchain network for building decentralized applications and tokens – will test a central bank digital currency (CBDC) as early as the second half of 2021, according to a Jan. 15 blog post. Moreover, the network looks to become a blockchain of blockchains with a total of 30 public blockchain integrations slated for this year.

Quick bites

  • NFTs & DEFI: Cointelegraph’s Andrew Thurman speaks to with Aavegotchi’s Jesse Johnson. (Cointelegraph)
  • BITCOIN BUBBLE? Nope! (CoinDesk opinion)
  • RESERVE CURRENCY: Former Canadian prime minister lists bitcoin as possible reserve currency. (CoinDesk)
  • VOLATILITY FEARS: Bloomberg reports bitcoin price swings are keeping CFOs from the market. (CoinDesk)
  • WHAT’S MONEY? Not CBDCs, IMF survey respondents seem to think. (Decrypt)
  • BITCOIN RESURGENCE: Nic Carter explains. (New York)

Market intel

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