Goldman Sachs is set to launch a new company focused on its digital assets platform, aiming to integrate blockchain technology into financial instruments for large firms.
Spin Out into a New Company
Goldman Sachs plans to spin out its digital assets platform into a new company within the next 12 to 18 months. This move will enable the creation, trading, and settlement of financial instruments through blockchain. Tradeweb Markets Inc. is the first strategic partner to work with Goldman in developing new commercial solutions for the platform.
Integrating Blockchain into Financial Systems
Goldman's move mirrors a broader industry trend where major financial institutions and governments are embracing blockchain technology to enhance the efficiency of traditional asset trading and settlement processes. Goldman is also looking to support secondary transactions in private digital asset companies, offering liquidity and leveraging private market discounts.
Goldman Sachs Bullish on Bitcoin
Throughout the year, Goldman Sachs has maintained a bullish stance on Bitcoin. In its November filing with the SEC, the bank reported $718 million in Bitcoin ETF holdings, adding $300 million since the second quarter, a 71% increase. Three tokenization projects are also planned by the end of the year.
Goldman Sachs continues to advance in the digital assets sector, offering new blockchain-based solutions and increasing its Bitcoin investments.
