Financial services major Goldman Sachs has decided to venture deeper into crypto with three new tokenization projects, and expand its gambit of crypto services.
The global financial services firm Goldman Sachs has shared its plans for three new tokenization projects. Talking to a leading business magazine, the Global Head of Digital Assets at the firm, Mathew McDermott confirmed the news. Peers of Goldman Sachs and the broader financial services industry have gradually started offering crypto services.
Goldman Sachs will roll out the projects in the US by the end of this year. Further, McDermott clarified that their clients had generated more interest in the crypto space. As a result, the firm decided to go into an expansion mode for its crypto services. The firm’s executive termed tokenization as a popular sector, with multiple useful applications for real-world assets.
He also revealed that the company hosted a digital assets summit in London recently for its clients. The latter shared their expectations for the crypto services. This would help them launch suitable products for their clients, added McDermott.
Sharing his opinions on the crypto market, he said the outlook for this year was bullish. Moreover, Goldman Sachs had an active role in the launch of the spot BTC ETFs in the US. Meanwhile, the firm has already worked on tokenization with other international partners in the past. However, the firm’s official did not disclose any more details of their upcoming projects.
This year, several financial services firms have forayed into exploring tokenization. The tokenization of real-world assets has gained prominence at the same time. Banks, analytics firms, and even central banking authorities are exploring it.
These instances of use cases are significant for crypto adoption to gain pace worldwide. With regulatory advancements and such projects, crypto adoption has gained in recent months.
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