Two years ago Goldman Sachs launched its Digital Assets Platform (GS DAP) with the issuance of a €100 million digital bond for the European Investment Bank (EIB). Goldman’s Head of Digital Assets, Mathew McDermott, said it is looking to spin out the solution in the next 12-18 months so that it can be industry owned, according to Bloomberg. That’s subject to regulatory approvals. It plans to retain its digital asset team.
While the initial use case is fixed income, he also envisages the platform being used for tokenized funds and collateral.
“We view permissioned distributed technologies as the next structural change to financial markets and are already demonstrating the meaningfulness of the technology’s perceived benefits”, said McDermott in a statement. “Delivering a distributed technology solution to a wide cross-section of financial market participants has the potential to redefine market connectivity, infrastructure composability, and to deliver a new suite of commercial opportunities for the buy- and sell-side.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
