Bitcoin Brokerage From Former Goldman Sachs, Morgan Stanley Bankers

Former Goldman Sachs, Morgan Stanley, BNP Paribus, and Societe General bankers have developed a London-based bitcoin brokerage firm. The new endeavor, called Crypto Facilities, provides traditional banking services, like determining derivatives and trades options and futures, but all oriented around bitcoin. Crypto Facilities allows clients to bet on the future of bitcoin prices and hedges the bets with derivative options.

“I really wanted to help this industry develop and bring the experience that I have,” said founder Timo Schlaefer, co-founder and CEO of Crypto Facilities in an interview with CNBC.

The company is currently being regulated by the U.K.’s Financial Conduct Authority, but the scope of the regulation is only extended to traditional financial services and not on the currency itself. While the governmental financial regulators see potential in the digital currency and the technology which backs it up, regulators are wary of potential risks bitcoin poses.

The emerging industry for bitcoin brokerage will likely go a long way towards encouraging investment into the currency, while also stabilizing prices for the crypto-currency. The London-based firm is not the only institution providing risk management options when it comes to bitcoin. Similar opperations have commenced in Singapore, China, Russia, and the Seychelles.


Read More – Ex-Goldman Director Aims to Hedge Your Bitcoin Risks (CNBC, Matt Clinch)



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Originally from Gaithersburg, Maryland, Millan is a senior at the George Washington University studying Biological Anthropology.


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