According to a Bloomberg report on Monday, Goldman Sachs plans to spin off its digital asset platform into an independent company. This new startup initiative aims to leverage the transformative potential of blockchain technology to fundamentally change the creation, trading, and settlement of financial instruments.
(Co-branded credit card penalized! Apple and Goldman Sachs heavily fined $89 million by the U.S. Consumer Financial Protection Bureau)
Goldman Sachs explores new startup partnerships, aiming to complete within 12 months
According to Bloomberg, this banking giant is currently in discussions with potential partners to establish this new company. These collaborations are expected to bring together heavyweight firms in the financial industry to jointly promote the application of blockchain solutions in institutional finance. The new platform will serve large financial institutions, enabling seamless and secure transactions through distributed ledger technology.
Although still in the early stages, Goldman Sachs plans to complete the spin-off within the next 12 to 18 months. The bank's global head of digital assets, Mathew McDermott, revealed this timeline.
By establishing an independent company, Goldman Sachs hopes to focus more on developing blockchain applications and promoting wider acceptance of digital asset technology within the traditional financial ecosystem.
This article Goldman Sachs prepares to spin off its digital asset platform, an independent company striving for a blockchain future first appeared in Chain News ABMedia.