Goldman Sachs to Introduce Three Tokenization Initiatives in 2024
Goldman Sachs is set to launch tokenization projects by the end of 2024, targeting money market funds and real estate, according to a July 10 report.
Fortune reported that Goldman Sachs seeks to leverage public or private blockchains to tokenize real-world assets (RWAs), enhancing investment opportunities. The company’s three projects with major clients include its first in the United States.
The bank has previously worked on tokenization projects, including a bond issuance with the European Investment Bank and a sovereign green bond for the Hong Kong Monetary Authority. These initiatives are part of Goldman’s broader strategy to offer digital asset solutions.
GOLDMAN SACHS TO LAUNCH THREE TOKENIZATION PROJECTS BY END OF YEAR, SAYS DIGITAL ASSETS CHIEF
As its peers in traditional finance push deeper into crypto—including BlackRock’s Bitcoin ETF and Fidelity’s trading platform—Goldman Sachs is preparing to make a move of its own. This…
— *Walter Bloomberg (@DeItaone) July 10, 2024
Matthew McDermott, global head of digital assets at Goldman Sachs, emphasized the importance of creating investor-desired products. The bank recently hosted a digital assets summit in London, which saw considerable client interest in tokenized assets.
“There’s no point doing it just for the sake of it,” said McDermott. “The definite feedback is that this is something that actually will change the nature of how they can invest.”
McDermott also referred to the launch of the exchange-traded funds (ETFs) as generating a “renewed momentum in crypto,” though this enthusiasm is not universally shared within Goldman Sachs.
“The nice thing is, about an institution of our size, there are differing views,” said McDermott. “We’ve continued to see, certainly this
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