The world's leading investment bank, Goldman Sachs, is preparing to transform its digital asset platform into a new blockchain company.
According to a Bloomberg report, this move marks a major turning point in the financial industry. The new company will support large financial institutions in creating, trading, and settling financial instruments through blockchain technology.
Matthew McDermott, Goldman Sachs' global head of digital assets, said this initiative is in its early stages and has a long-term vision. The bank is expected to complete the transformation within the next 12-18 months, subject to regulatory approval.
"Creating an industry-owned system is the best thing for the market," McDermott emphasized.
Tradeweb Markets Inc., a financial trading platform, has become the first strategic partner in this Goldman Sachs project. The company will collaborate on developing commercial use cases for blockchain technology.
In the context of growing investment in cryptocurrencies this year, the involvement of major players like Goldman Sachs in deeper blockchain technology demonstrates the momentum and potential of the industry. The new plans will not only transform the current platform but also expand capabilities and new use cases.
