Mathew McDermott – global head of digital assets at Goldman Sachs – recently revealed that the firm is preparing to launch three tokenization projects by the end of the year, targeting large institutional clients.

This upcoming development is part of a deeper push into the digital assets sector. McDermott said the bank sees tokenization, the conversion of real assets (RWA) into digital tokens, as a promising area.

Mathew McDermott of Goldman Sachs

McDermott noted that the focus will be on creating markets for tokenized assets, increasing transaction speeds and diversifying the types of assets available for collateral. Three tokenized projects are expected to launch by the end of the year, including the first in the United States.

The bank's move into tokenization includes efforts in a U.S. fund mix and European debt issuance. These initiatives aim to leverage private blockchains to comply with regulatory standards.

With upcoming projects, Goldman Sachs also wants to differentiate itself from competitors like BlackRock and Franklin Templeton, which target retail customers and focus on public blockchains.

In March, Goldman Sachs, BNY Mellon, and other major institutions tested the Canton Network to execute seamless tokenized asset transactions, involving multiple asset managers, banks, and exchanges. pandemic.

Goldman Sachs has been involved in similar projects, such as issuing bonds with the European Investment Bank in 2022 and tokenizing government green bonds for the Monetary Authority. Hong Kong (Hong Kong Monetary Authority) in 2023.

The announcement comes amid a broader resurgence in the cryptocurrency market, fueled by the launch of spot Bitcoin ETFs in the United States and growing interest in digital assets among institutional investors.

The launch of spot Bitcoin ETFs has been a positive catalyst to push up the price of Bitcoin. At the time of writing, Bitcoin is trading at around $57,893. Despite falling 17% in the past month, Bitcoin is still up nearly 39% year to date.

Bitcoin price chart 1 day. Source: TradingView

McDermott believes that the approval of spot ETFs for Bitcoin and Ethereum could boost liquidity and attract more pension funds, insurance companies and other institutional investors into the crypto space . He also sees opportunity in tokenization, where financial assets can be digitized and segmented, potentially attracting a broader group of investors and improving liquidity.



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