Goldman Sachs has announced the spin-out of its GS DAP Blockchain platform, designed to optimize institutional trading and reduce settlement times. This move aims to make the platform co-owned by the industry, seeking broader adoption in financial markets.
An independent approach to transforming financial markets
GS DAP, developed to facilitate trading of assets such as cash and bonds, will be transformed into an independent company within the next 12 to 18 months, according to Mathew McDermott, global head of digital assets at Goldman Sachs.
This separation will allow us to overcome one of the main challenges of adopting blockchain platforms in financial institutions: the reluctance to use technology controlled by a competitor.
The collaboration with Tradeweb Markets, a rates and credit trading platform, seeks to expand the commercial use cases of GS DAP, laying the foundation for a more efficient financial infrastructure. The independence of GS DAP is designed to offer a long-term solution for digital financial services, ensuring that the platform is adapted to the needs of the market.
A renewed push for digital assets
Despite the spin-out, Goldman Sachs will continue to develop its digital assets business. This move reflects growing institutional interest in cryptocurrencies, fueled by recent events such as the approval of spot Bitcoin ETFs and the pro-crypto approach of President-elect Donald Trump, who has promised to make the United States the “crypto capital of the planet.” ».
The evolution of GS DAP and its spin-out reinforce Goldman Sachs’ commitment to technological innovation, highlighting the potential of blockchain to transform global financial markets.
Do you want to always be updated in the world of cryptocurrencies? Subscribe now to the CriptoTendencia WhatsApp channel! Here you will instantly receive the most relevant information about Bitcoin, Altcoins, DeFi, NFTs, Blockchain and the Metaverse.
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
