The largest us investment Bank, Goldman Sachs, does not exclude the possibility of issuing its own stablecoin. This was stated by the new head of the Bank's digital assets Department, Matthew McDermott, CNBC reports.

"We are studying the commercial viability of stablecoin. We are only at the beginning of the road and continue to explore potential applications, " he said.
McDermott is tasked with expanding his team by doubling the staff in Asia and Europe. According to sources of the publication, he managed to attract the head of strategy in the field of digital assets of JPMorgan Chase Oli Harris, who was involved in the creation of JPM Coin, the first digital currency of a large Bank.

The priority task of the new head of the digital assets Department at Goldman Sachs will be to transform the REPO market with a daily turnover of more than $1 trillion. McDermott noted that the standardization of outdated processes using distributed Ledger technology (DLT) will lead to cheaper operations and real-time calculations.

McDermott is also exploring the possibility of integrating DLT into the credit and mortgage markets. This, however, will not be possible without the adoption of the technology by other participants. That's why he devotes a certain part of his working day to negotiating with other companies, such as Facebook and JPMorgan.
The 46-year-old veteran of the financial industry is convinced that the future of global financial markets is inextricably linked with electronic registry and automation.

"In the next 5-10 years, the financial system will be different: all assets and liabilities will be based on the blockchain, and all transactions will take place in the network. You can increase your efficiency by issuing debt securities, securitization, and issuing loans. An ecosystem of digital financial markets will be created, the opportunities are extremely wide, " McDermott explained.

Regarding cryptocurrencies, the financier pointed out that demand has shifted to institutional investors. According to him, Goldman Sachs clients also Express interest in digital assets.