American financial giants Goldman Sachs and BNY Mellon have announced a joint initiative aimed at providing access to tokenized investment funds for institutional investors.
Project Overview
The initiative by Goldman Sachs and BNY Mellon marks a significant move towards modernizing the investment landscape. This collaboration aims to create a standard for digitized fund transactions.
Technology and Collaboration Details
BNY Mellon will utilize blockchain technology developed by Goldman Sachs to track clients' rights to specific investment products. The BNY Mellon LiquidityDirect platform will enable investors to subscribe and redeem funds through blockchain.
Regulation and Market Impact
The signing of the GENIUS Act by U.S. President Donald Trump has established clear rules for stablecoins, marking a new chapter in the regulation of the crypto industry in the United States.
The initiative by Goldman Sachs and BNY Mellon illustrates the ongoing shifts in the financial sector, aimed at enhancing transparency and efficiency in asset management. Future steps will address both technological aspects and regulatory considerations.
