Goldman Sachs sets sights on standalone blockchain entity for digital assets expansion
Goldman Sachs plans to transform its digital assets platform into a standalone blockchain-focused entity within 12 to 18 months, pending regulatory approval. The new company will serve institutional clients, facilitating transactions involving traditional assets through blockchain and expanding into private digital asset markets. Goldman Sachs has partnered with Tradeweb Markets Inc. to explore blockchain use cases for enhanced market efficiency. The initiative aims to modernize financial workflows using decentralized ledger technology for faster transactions and greater transparency. Goldman is also targeting secondary markets for digital asset firms and plans tokenization projects to diversify institutional portfolios. The firm maintains a positive outlook on blockchain and digital assets, bolstered by Bitcoin's recent rise to $93,000. Goldman Sachs has invested in Bitcoin ETFs and partnered with DRW Capital to deploy $600 million in spot Bitcoin and Ethereum ETFs, demonstrating its commitment to the sector's growth.
