The investment bank is speaking to potential partners to add to the platform’s capabilities and develop new offerings.
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GoldmanSachsispreparingtospinoutitscryptocurrencyplatformtocreateanewcompanyfocusedoncreatingandtradingfinancialinstrumentsonblockchainnetworks,BloombergreportedonNov.18.
Theinvestmentbankisspeakingtopotentialpartnerstoaddtotheplatform’scapabilitiesanddevelopnewofferings,MathewMcDermott,Goldman’sglobalheadofDigitalAssets,toldBloomberg.
TradewebMarkets,anelectronictradingplatform,willreportedlybeamongthenewentity’sstrategicpartners.
McDermottsaidthespinoutisexpectedtobecompletedinthenext12to18months,pendingregulatoryapprovals.Plansarereportedlystillintheearlystages.
“It’sinthebestinterestofthemarkettohavesomethingthatisindustry-owned,”McDermotttoldBloomberg.
Source:RWA.xyz
Related:GoldmanSachstolaunch3newtokenizationproductsthisyear:Report
InJuly,McDermottsaidGoldmanSachsispreparingtolaunchthreenewtokenizationproductslaterthisyearintheUnitedStatesandEuropefollo
