Goldman Sachs Continues to Invest in Digital Assets and Blockchain Technology

According to Blockworks, Goldman Sachs remains committed to investing in the digital asset ecosystem, with Mathew McDermott, global head of digital assets at Goldman Sachs, discussing the company's progress at the Blockworks Digital Asset Summit in London. McDermott highlighted that Goldman Sachs launched its digital assets desk in 2021 and is still the only bank offering liquidity in cash-settled derivatives, options, and futures crypto trading. He also noted a significant change in client types and trading volumes this year compared to last year. Goldman Sachs has long been a proponent of crypto and blockchain technology, arguing that regulated, traditional financial institutions are the ones who will create meaningful innovation. CEO David Solomon has previously written an opinion piece for the Wall Street Journal, asserting that experienced institutions should be leading the path in the digital asset space. McDermott also mentioned that recent policy developments around digital assets have been encouraging, allowing more financial institutions to enter the space. Regarding the possibility of the bank expanding its on-chain services via public blockchains, McDermott acknowledged some compliance hurdles but expressed hope that the team can move in that direction. He sees a huge opportunity in this area, but emphasized the need to monitor and watch the regulatory landscape mature.

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