Sources claim Goldman Sachs (GS) is ready to spin out the technology platform under its division on digital assets. The measure is geared towards simplifying processes and concentrating on basic banking functions. The platform captures Goldman Sachs' research into cryptocurrency and distributed finance breakthroughs by supporting blockchain adoption and the creation of crypto-linked trading products. As reported by Bloomberg News, the spin-off is in its early stages, and implementation is expected to take place within 12 to 18 months.
The announcement tracks regulatory developments in the cryptocurrency field, including the licensing of spot Bitcoin exchange-traded funds earlier this year by the U.S. Securities and Exchange Commission. Rising investor interest has seen the value of Bitcoin, the most valuable cryptocurrency, more than double in 2024.
Although Goldman Sachs has not publicly expressed opinions on the development, the possible spin-off emphasizes the changing relationship between established financial institutions and developing digital asset markets.
