Thomas Daniels
Goldman Sachs is advancing plans to transform its digital asset platform into a standalone entity, signaling a deeper commitment to blockchain as U.S. adoption accelerates.
As reported by Bloomberg, the financial powerhouse has initiated discussions with market intermediaries to scale its blockchain infrastructure products. Mathew McDermott, Goldman Sachs’ Global Head of Digital Assets, revealed that the bank’s strategy, though still in preliminary stages, could materialize within 12 to 18 months.
McDermott emphasized that regulatory hurdles and procedural challenges may influence the timeline. However, Goldman’s trajectory is clear. The institution’s private permissioned blockchain, GS DAP—introduced in 2023 to tokenize and manage assets in real time—has primarily served institutional clients and sovereign-backed settlement pilots. By 2025, Goldman aims to launch three additional tokenization projects, further expanding its portfolio.
In contrast to wealth managers like BlackRock and Fidelity, which have catered to retail investors and crypto businesses, Goldman Sachs has remained focused on institutional clients. Notably, the bank holds over $710 million in spot Bitcoin ETF shares, underscoring its stake in the evolving crypto landscape.
The broader Wall Street community continues to embrace blockchain amid evolving regulations and shifting perspectives. Congress has made strides in digital asset policymaking, while the recent election of pro-Bitcoin candidate Donald Trump has energized market sentiment.
As blockchain adoption grows, Goldman Sachs’ move could redefine institutional engagement with digital assets, potentially setting a new benchmark for the financial sector.
