TechFlow news, on November 18, according to Bloomberg, Mathew McDermott, Global Head of Digital Assets at Goldman Sachs Group Inc., revealed in an interview that the bank is in talks with potential partners about spinning off its digital asset platform into an independent company. The new entity will offer large financial institutions services for creating, trading, and settling financial instruments based on blockchain technology.
Goldman launched its Digital Asset Platform in 2022, aiming to tokenize traditional assets using blockchain technology. McDermott said the spin-off plan is still in early stages, with the firm currently expanding the platform's capabilities and developing new commercial use cases. Subject to regulatory approvals, the spin-off is expected to be completed within the next 12 to 18 months.
