Goldman Sachs May Launch Its Own Stablecoin

By Abhimanyu Krishnan | News | 7 Aug 2020

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

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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