Goldman Sachs plans blockchain spin-off to enhance financial asset transactions.
Tradeweb Markets partners with Goldman to bring traditional assets to blockchain.
Crypto market surges to $3.2T, raising speculation of a $10T market cap.
Goldman Sachs is spinning off its digital-assets platform into a separate entity. This new company will serve as a hub for large financial firms looking to create, trade, and settle financial instruments using blockchain technology. The bank plans to finalize the spinout in the next 12-18 months, pending regulatory approval.
Goldman’s decision comes as financial institutions increasingly adopt crypto-based technology for traditional asset management and the reinvigorated interest among the wealthy individuals to the crypto market, according to Tony Edward, Founder of ThinkCryptoPod.
Creating an Industry-Owned Platform
To expand its platform’s commercial use cases, Goldman Sachs has begun discussions with several potential partners. Their goal is to create a digital-asset platform owned by industry players to increase scalability and adoption across financial markets.
Tradeweb Markets, one of the first strategic pa…
The post Goldman Sachs’ Blockchain Spin-off: A $10 Trillion Crypto Market Catalyst? appeared first on Coin Edition.
