Goldman Sachs, a renowned investment bank, is set to make its entrance into the cryptocurrency industry, following in the footsteps of its competitors. Matthew McDermott, the global head of digital assets at Goldman Sachs, revealed the bank’s plans to launch three new tokenization products in 2024. These products will be made available in both Europe and the United States. McDermott explained that the decision to venture into cryptocurrencies was driven by the growing interest from clients in digital assets.
The banking giant aims to launch three tokenization products, focusing on Real World Assets (RWAs) such as real estate holdings and money market funds (MMFs). These RWAs will be issued on private blockchains. The expected launch of these products has generated significant anticipation in the cryptocurrency market.
Raoul Pal, the CEO of Real Vision, expressed an optimistic view regarding the Solana (SOL) cryptocurrency’s potential to lead the next expansion of the digital asset market. Pal’s viewpoint was shared in a recent video where he discussed the advancements in the cryptocurrency industry. This positive outlook comes in the wake of investment firm VanEck’s proposal to launch a spot Solana-based exchange-traded fund (ETF). Additionally, asset manager 21Shares submitted an application for a Solana ETF to the SEC.
The approval of Spot Ethereum exchange-traded funds (ETFs) has been a topic of discussion in the cryptocurrency market, with Solana emerging as a potential candidate for this financial innovation. The former Goldman Sachs executive emphasized that the cryptocurrency market is currently experiencing sustained growth, which he refers to as the “banana zone”.
It is important to note that the views expressed in this article are for informational purposes only and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.