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Goldman Sachs is expanding its operations in the digital assets space and is preparing to make a significant investment in tokenization—the process of digitizing assets and representing them on a blockchain. This announcement was made by Mathew McDermott, the company’s Global Head of Digital Assets, during the TOKEN2049 event held in Singapore.
Speaking to CNBC, McDermott stated that the company will focus on digital asset trading, crypto lending, and tokenization. According to him, an increasing number of Goldman Sachs clients want to participate more actively in the digital asset markets. Therefore, the company is reshaping its business strategy to meet this demand.
Goldman Sachs is currently especially active in secondary markets, such as private equity. However, the company’s future plans include developing more innovative solutions such as asset tokenization and collateral liquidity. McDermott expressed that these areas could usher in a new era in financial markets.
Additionally, the company aims to obtain the necessary approvals from regulatory bodies in various countries to achieve these goals. McDermott predicts that as regulatory frameworks become more defined, institutional investors will show increased interest in digital assets.
This development indicates a growing interest from traditional financial institutions in blockchain technology and the cryptocurrency market. Goldman Sachs’ move could mark a significant milestone in the digital transformation of the financial sector.
The Solana Coalition Is Also in Talks with the SEC for a Tokenization Initiative
The Solana Policy Institute, Superstate, and other crypto organizations have submitted a pilot program proposal to the U.S. Securities and Exchange Commission (SEC) this week. The proposed 18-month program aims to tokenize publicly traded stocks on a public blockchain and test their trading mechanisms.
The goal of the project is to demonstrate that existing securities regulations can be made more transparent and efficient through blockchain technology. Participants will go through KYC verification, and network fees will be classified as a technology cost. If successful, the program could pave the way for the permanent migration of U.S. securities markets to blockchain platforms.
This initiative aligns with the growing trend of tokenization in the crypto sector, which is projected to reach a $19 trillion market. If the SEC supports this move, it could mark the beginning of a crucial phase that bridges crypto and traditional finance.
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