Goldman Sachs Announces Plans to Spin Off its Blockchain Trading Platform

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Goldman Sachs has announced plans to create a new company focused on blockchain networks and financial instrument trading, by spinning off its digital assets platform into an independent entity.

The goal of this move is to strengthen the platform’s capabilities and explore new offerings through partnerships, including one with electronic trading platform Tradeweb Markets. The spinout is expected to be finalized within the coming year to year and a half, subject to regulatory approval.

In response to growing interest in cryptocurrency from clients, Mathew McDermott, the global head of digital assets at Goldman Sachs, has revealed plans to launch three tokenization projects by the end of the year.

These projects will target the US and European markets, aiming to create marketplaces for tokenized real-world assets (RWAs) such as funds and debt in order to increase transaction speeds and expand the range of available collateral.