Goldman Sachs Embraces Crypto With Three New Initiatives In The Pipeline

Name	Symbol	Market	Market Cap ($)	Algorithm
FLOKI	FLOKIUSD	Crypto	1,798,348,568	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

FLOKI

FLOKIUSD

Crypto

1,798,348,568

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00000200	-1.03%	0.000192	0.000192	0.000192

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00000200

-1.03%

0.000192

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000197	0.000191	0.000195	0.000194	0.00000000 - 0.000349

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000197

0.000191

0.000195

0.000194

0.00000000 - 0.000349

Exchange	Last Trade	Size	Trade Price	Currency
CRTO	05:20:47	1,000.00	0.000192	USD

Exchange

Last Trade

Size

Trade Price

Currency

CRTO

05:20:47

1,000.00

0.000192

USD

Price x Volume	Volume	Base Symbol	Related Pairs
5,910.54	30,554,000.00	FLOKI	FLOKIEUR	FLOKIGBP	FLOKIBTC

Price x Volume

Volume

Base Symbol

Related Pairs

5,910.54

30,554,000.00

Goldman Sachs Embraces Crypto With Three New Initiatives In The Pipeline

11/07/2024 4:00am

NEWSBTC

To capitalize on the growing interest in the crypto industry, banking giant Goldman Sachs is preparing to enter the tokenization sector, with three offerings expected to launch later this year. Goldman Sachs Aims To Capitalize On Tokenization Trend According to a Fortune report, Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, revealed the bank’s intentions to expand its crypto offerings, focusing on the tokenization sector. Tokenization involves issuing “real-world assets,” such as money market funds and real estate holdings on public blockchains such as Ethereum or Solana, leading the bank to plan to launch three tokenization projects by the end of the year in partnership with major clients, including its first project in the United States. Related Reading: Floki Inu To Build Schools In India, FLOKI Price Seen Hitting $17 While other financial institutions, such as BlackRock, launched its first tokenized fund on the Ethereum blockchain in March, McDermott emphasized that success depends on creating products that investors want. To that end, Goldman Sachs recently hosted a digital asset summit in London attended by more than 500 clients. During the Summit, McDermott emphasized the importance of providing investors with these solutions that can “fundamentally” change asset management strategies, stating, “There’s no point in doing it just for the sake of it. According to the report, Goldman Sachs’ views on crypto differ within the institution. McDermott acknowledged that varying perspectives are expected within an institution of their size. While Sharmin Mossavar-Rahmani, CIO for Goldman Sachs, voiced skepticism about crypto as an investment asset class, McDermott emphasized the bank’s active involvement in crypto from an institutional perspective, including trading cash-settled crypto derivatives on behalf of clients and their participation in the recently approved ETF markets. Crypto Opportunities Ahead Of US Presidential Election As BlackRock successfully launched its treasury fund, BUIDL, on the Ethereum blockchain, it has garnered significant attention; McDermott noted that Goldman Sachs primarily targets institutional clients and intends to work exclusively with private blockchains due to “regulatory constraints.” Although McDermott refrained from disclosing specific details about the upcoming tokenization projects set to debut this year, he revealed that one project would focus on the US fund complex. At the same time, another would center around debt issuance in Europe. Related Reading: Ethereum Rising, 2 Million Addresses Will Be In Money If $3,200 Is Broken Looking ahead, with the US presidential election and the potential for a shift in the government’s regulatory stance on crypto on the horizon, McDermott believes that Goldman Sachs’ opportunities in the space could expand further. This could include activities like holding spot crypto assets and exploring execution and sub-custody services, subject to approval. As of this writing, the largest cryptocurrency on the market, Bitcoin (BTC), was trading at $57,580, presenting a slight decrease of 0.5% in the 24-hour time frame, aiming to consolidate above this level. Featured image from DALL-E, chart from TradingView.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

FLOKIUSD FLOKI