2024

Donald Trump

BlackRock

<p>Goldman Sachs is joining other Wall Street giants in diversifying into crypto with plans to launch three tokenization projects this year amid growing interest from clients.</p> 
<p>The funds will target institutional clients in the US and Europe, the global head of digital assets Mathew McDermott <a href="https://fortune.com/crypto/2024/07/10/goldman-sachs-launch-tokenization-bitcoin-etfs-crypto-mcdermott/" target="_blank" rel="noopener">told</a> Fortune in an interview, adding that the investment bank also plans to create marketplaces for tokenized real-world assets (RWA).</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Goldman Sachs to launch three tokenization projects by end of year, says digital assets chief. <a href="https://t.co/8nqj6pv7xl">https://t.co/8nqj6pv7xl</a></p> 
 <p>— FORTUNE (@FortuneMagazine) <a href="https://twitter.com/FortuneMagazine/status/1811048756940247155?ref_src=twsrc%5Etfw">July 10, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>McDermott attributed the initiative to an “uptick in interest from clients” in digital assets. He noted that the success of Bitcoin exchange-traded funds (ETFs) in the US had “renewed momentum in crypto.”</p> 
<p>Since starting trading in January, US spot Bitcoin ETFs have attracted over $50 billion in assets under management.</p> 
<h2 id="tokenized-rwas-gain-traction-among-us-firms">Tokenized RWAs Gain Traction Among US Firms</h2> 
<p>The recent initiative by Goldman Sachs comes amid a growing interest in tokenized RWAs among US firms.</p> 
<p>The $10 trillion asset manager BlackRock has already dipped its toes into the tokenization space with its BlackRock USD Institutional Digital Liquidity Fund (<a href="https://insidebitcoins.com/news/blackrock-to-launch-digital-asset-fund-on-ethereum" target="_blank" rel="noopener">BUIDL</a>), which has around $500 million in assets under management.</p> 
<p>Franklin Templeton also has $400 million in assets under management for its OnChain US Government Money Fund (<a href="https://www.franklintempleton.com/investments/options/money-market-funds/products/29386/SINGLCLASS/franklin-on-chain-u-s-government-money-fund/FOBXX" target="_blank" rel="noopener">FOBXX</a>) and a BENJI token on the Polygon and Stellar blockchains.</p> 
<p>McDermott noted that Goldman Sachs would not use public blockchains like Ethereum for tokenization projects like BlackRock did. Instead, it plans to use permissioned networks to remain compliant.</p> 
<p>The investment bank also plans to expand into crypto with “execution” and “sub-custody,” McDermott said. However, this expansion will depend on whether the US government softens its stance towards the crypto industry.</p> 
<h3 id="also-read">Also Read:</h3> 
<ul> 
 <li><a href="https://insidebitcoins.com/news/donald-trump-to-speak-at-major-bitcoin-conference-as-polls-show-his-crypto-embrace-could-win-votes">Donald Trump To Speak At Major Bitcoin Conference As Polls Show His Crypto Embrace Could Win Votes</a></li> 
 <li><a href="https://insidebitcoins.com/news/notcoin-price-prediction-not-plummets-7-as-this-p2e-doge-themed-rival-zooms-towards-6-million">Notcoin Price Prediction: NOT Plummets 7% As This P2E DOGE-Themed Rival Zooms Towards $6 Million</a></li> 
 <li><a href="https://insidebitcoins.com/news/pepe-price-plunges-7-in-a-week-as-traders-pivot-to-this-layer-2-derivative-and-its-596-apy">Pepe Price Plunges 7% In A Week As Traders Pivot To This Layer-2 Derivative And Its 596% APY</a></li> 
</ul>

Goldman Sachs Jumps On Crypto Bandwagon With Plans for Three Tokenization Projects In 2024

Table of Contents

Inside Bitcoins

Autres articles publiés le 11 juil. 2024

Top Cryptos To Retire and Buy Brand New Car In 2025

Pepe Unchained Presale Raises Over $3M – Meme Coin With L2 Backed to 100X

CFTC chair reiterates BTC and ETH are commodities in testimony

UK Regulator Alerts Public of Email Scam Demanding Bitcoin

Which is The BEST AI Crypto Trading Bot?

Investors Seize Opportunities in Altcoin Market

Join our free newsletter for daily crypto updates!