NewsletterGoldman Sachs Bets Big On Crypto & Tokenization Offerings
Highlights
- Goldman Sachs is planning to expand its services to crypto and tokenization.
- The firm's crypto head asserts that it addresses the growing customer demand for crypto services.
- The decision strengthens Eric Trump's prediction of traditional finance's downfall without crypto.
American multinational investment giant Goldman Sachs has recently revealed its plans to boost its crypto presence through lending and tokenization. At TOKEN2049, Mathew McDermott, Goldman Sachs’ global head of crypto, announced that the platform is set to broaden its cryptocurrency trading operations, venturing into crypto lending and heavily investing in tokenization.
Recently, Eric forecasted that banks and traditional finance might collapse without embracing crypto. Goldman Sachs’ crypto strategy highlights the shift of traditional financial institutions towards digital assets, acknowledging their potential and the risks of being left behind.
Goldman Sachs To Embrace Crypto and Tokenization
Speaking at TOKEN2049, Goldman Sachs’ Mathew McDermott unveiled the banking giant’s potential plans to expand its services to crypto and tokenization. According to McDermott, the firm’s move is a response to growing client demand for crypto services.
While Goldman Sachs has initiated the introduction of crypto services and tokenization, the firm is awaiting regulatory approvals for the move. Though the firm previously focused on secondary market transactions like private equity, it is now expanding into tokenization and collateral liquidity.
Also Read – List of Popular RWA Tokenization Companies
Why Banks Are Embracing Crypto?
Significantly, Goldman Sachs’ decision to explore crypto trading further strengthens the recent predictions of Eric Trump, the Trump Organization’s executive director. At TOKEN2049, Eric highlighted the potential of cryptocurrencies to replace the traditional fiat system. Eric also predicted the ultimate collapse of the traditional payment systems like SWIFT, calling it a complete “disaster.”
Adding to this growing trend of crypto banking, financial giant Morgan Stanley is also exploring opportunities to expand its crypto trading services. The platform is planning to partner with popular crypto firms to enable its brokerage clients to buy and sell prominent tokens like Bitcoin and Ethereum.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Bitcoin Gains State Adoption as Texas Becomes First U.S. State to Purchase BTC
- Rate Cut Advocate Kevin Hassett Emerges as Trump’s Top Pick For Fed Chair
- Breaking: Crypto Platform Polymarket To Operate As A U.S. Exchange as CFTC Issues Key Order
- SEC Panel to Discuss Regulatory Changes for Tokenized Equities on Dec. 4
- December Fed Rate Cut Odds Surge To 85% Following PPI Release
- Chainlink Price Could Soar to $15 as ETF Listing Nears
- Will Cardano Price Rebound as Hoskinson Hints at a TVL Surge After Midnight Launch?
- Ethereum Price Holds $2,900 Amid Massive ETF Inflows and BlackRock Purchase
- Sui Price Surges 12%: Could This Mark the Start of a Bullish Trend?
- Is Bitcoin Price Set for Major Recovery as December Rate Cut Chances Hit 80.9%?
- Solana Price Jumps as Bitwise ETF Sees Record $39.5M Inflow: Targeting $150 Next?
