Goldman Sachs intends to expand its crypto offerings, set to launch three tokenization projects by the end of the year.
The firm’s digital assets global head Mathew McDermott spoke with Fortune (gated).
In brief:
- Goldman Sachs is set to launch three tokenization projects by the end of the year with major clients, including its first in the US
- didn’t provide specifics on the three tokenization projects, but McDermmott said that one is focused on the fund complex in the US, and another on debt issuance in Europe.
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Tokenization is where “real-world assets” such as money market funds and real estate holdings are issued on public or private blockchains.
Goldman Sachs has some prior experience with tokenization including:
- working on a bond issuance with the European Investment Bank in 2022
- tokenizing a sovereign green bond for the Hong Kong Monetary Authority in 2023
- launching the Goldman Sachs Digital Asset Platform in 2023 (this assists in the tokenization of assets)
This article was written by Eamonn Sheridan at www.forexlive.com. Source