Home
News
Over the years, the interest in the digital asset space has increased. More and more firms continue to show interest in digital assets and the metaverse.
Trademark filings related to NFTs and metaverse continue to make headlines in the crypto space while the government introduces measures to curb illegal activities.
Goldman Sachs Explores Tokenizing Financial Instruments
Goldman Sachs, the US banking giant, declared this week that it is traversing the “tokenization of real assets” and NFTs.
Mathew McDermottm, the global head of digital assets at Goldman Sachs, revealed that they are exploring NFTs in the context of financial instruments, saying that the power there is quite powerful. “So we work on a number of things,” he adds.
Goldman Sachs is actively exploring and not at all holding back on NFTs, crypto, and the metaverse. As per the reports, the US investment bank refers to metaverse as an $8tn opportunity.
Until now, Goldman Sachs, in addition to investing in crypto start-ups, has also provided crypto-related financial instruments such as OTC crypto-trading services and Bitcoin (BTC) derivatives.
Goldman Sachs Adds In The Growing List of US-Based Firms Diving Into NFTs
The discussion around the tokenization of assets became popular with the advent of non-fungible tokens. NFTs holds immense potential and offer boundless opportunities with the concept of tokenization.
There are several live cases proving the successful tokenization of assets. Meanwhile, the tokenization of financial instruments has attracted much traction in recent months.
For tokenizing pre-initial public offering (IPO) company stocks, Portal, the DeFi protocol, collaborated with HighCircleX (HCX) this week.
The tokenized assets can then be traded on the HCX marketplace providing holders liquidity in order to address the issue of illiquidity.
At the Financial Times Crypto and Digital Assets Summit this week, activity in the digital asset space is bound to grow this year.
Politicians, representatives from the banking field, founders of crypto exchanges, and blockchain entities, were among the key speakers.
ALSO READ: Crypto Proponents Summons Barriers For Silicon Valley Congresswoman
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
