Goldman Sachs To Spin Out Digital Assets Platform Amid Blockchain Push
Goldman Sachs Group Inc. NYSE: GS) is advancing its blockchain ambitions, planning to spin out its digital-assets platform into an independent company within the next 12 to 18 months.
What Happened: The platform aims to enable large financial institutions to create, trade, and settle financial instruments using blockchain technology, Bloomberg reported.
Mathew McDermott, Goldman’s global head of Digital Assets, revealed the plans, emphasizing the importance of making the platform “industry-owned” to benefit the broader market.
The move is contingent on regulatory approval.
Goldman is actively engaging with potential partners to enhance the platform’s capabilities and explore new commercial applications.
The first strategic partner, Tradeweb Markets Inc., has already joined forces with Goldman to develop …
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