- Goldman Sachs plans to launch three tokenization projects by year-end, according to their global head of digital assets, Mathew McDermott
- The bank with these projects is expected to target sectors like U.S. funds and European debt markets.
- Goldman Sachs plans to create marketplaces for tokenized assets.
It is no news that traditional finance (TradFi) players are starting to enter the decentralized finance (DeFi) market. And in one of such latest moves, investment banking giant, Goldman Sachs is reportedly going to launch three tokenization projects by the end of the year, as reported by Fortune Crypto.
While the details about these projects remain limited, the report, citing Goldman Sachs’ global head of digital assets, Mathew McDermott, suggests that one project will target the U.S. fund sector while another will focus on European debt markets.
Furthermore, Goldman Sachs plans to create marketplaces for tokenized assets.
McDermott even mentioned that Goldman Sachs plans to broaden its cryptocurrency services, focusing on tokenization. This involves issuing "real-world assets" like money market funds and real estate on blockchains, whether public or private.
BlackRock and Franklin Templeton are also exploring tokenization, but McDermott emphasized that the key to success lies in offering products that investors desire. Recently, the bank hosted a digital assets summit in London attended by more than 500 clients to address this strategy.
BlackRock CEO Larry Fink, last year, has even described tokens as “the next generation for markets.” And his statement came a few months before the asset manager launched its blockchain-driven treasury product, BUIDL, which has now exceeded $500 million in market value.
Edited by Harshajit Sarmah
