Earlier this week, it was announced that Goldman Sachs would adopt Digital Asset’s DAML smart contract language for its tokenization efforts. Today during the Hong Kong Fintech Week, Goldman Sachs’ Head of Digital Assets Mathew McDermott described tokenization as a “vast commercial opportunity” and shared a few more hints about what the bank is working on.
He mentioned how the buzz around cryptocurrencies had spurred interest in tokenizing other assets.
“For a lot of institutions looking to invest in cryptocurrencies, be it as an investment tool or as an on-balance sheet liquidity holder, it is still probably a little step too far,” said McDermott. “But then (they’re) looking at that underlying technology and how that really can transform the way that certain businesses (operate).”
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