According to Goldman Sachs' global head of digital assets, the bank could launch 3 tokenized funds during 2024. What do we know?
Goldman Sachs turns to tokenized funds
While blockchain technologies promise time savings and cost savings in many sectors, particularly in finance, many companies in this sector have launched in recent years. This is notably the case of BlackRock and its tokenized fund BUILD launched last spring.
On this subject, the famous investment bank Goldman Sachs also intends to be part of the game. Indeed, Matthew McDermott, Goldman Sachs' head of digital assets, announced that the company would plan to launch 3 tokenized funds during 2024.
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For the time being, the interested party has been relatively evasive about the objective of the said funds, but he did indicate that one of them would concern an investment fund in the United States, while a second would concern European debt.
In an interview with Fortune Crypto, he stressed the need to create tokenized products focused on investor interest :
There is no point in doing it just for the sake of it. The positive feedback is clear: this is something that will really change the nature of how they can invest.
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Furthermore, while BlackRock is more focused on retail clients through its BUILD fund built on Ethereum (ETH), Goldman Sachs is more likely to take a different path. Matthew McDermott actually explains that The bank is mainly aimed at institutional investors and that private blockchains should be favored for future projects.
In addition, Goldman Sachs could expand its blockchain technology activities, including the custody of cryptocurrencies.
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Source: Fortune Crypto
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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