Goldman Sachs’ global head of digital assets, Matthew McDermott, said in a CNBC interview on August 6 that the investment bank may launch its own stablecoin.
- McDermott says that the firm is exploring a stablecoin, but it’s still “early days”
- First applications of the tech will focus on repo, credit and mortgage markets
- McDermott, appointed last month, believes that on-chain transactions and ledgers will become commonplace in 5 to 10 years
- Also mentions a resurgence in interest in cryptocurrencies generally, as well as greater institutional interest
- Goldman appears to be putting more effort into blockchain technology, even as it declares digital assets as not being a legitimate asset class