Catenaa, Saturday, November 23, 2024- Goldman Sachs Group Inc. is set to spin out its digital-assets platform into an independent entity within the next 12 to 18 months, further solidifying its commitment to blockchain technology.
The new company will focus on enabling major financial institutions to create, trade, and settle financial instruments using blockchain.
Goldman Sachs highlighted that the move is designed to make the platform “industry-owned,” allowing broader market participation. The plan, which is subject to regulatory approval, includes partnering with Tradeweb Markets Inc. to develop use cases for the platform.
This step is part of a larger trend in the financial sector, as institutions increasingly embrace blockchain as a more efficient alternative to traditional systems for issuing and settling assets like cash and bonds.
Blockchain’s potential to streamline processes and cut down on inefficiencies has made it an appealing option for major financial players.
Additionally, Goldman is exploring secondary transactions in private digital-asset companies and preparing to resume Bitcoin-backed lending activities. These moves reflect growing institutional interest in blockchain and digital assets, particularly as the industry anticipates a more favorable regulatory landscape under the incoming Trump administration.
