Goldman Sachs "Cryptocurrency-based loan and tokenization business set to expand in earnest"

Goldman Sachs Digital Asset Global Head Mathew McDermott (Source: Fox Business)

Goldman Sachs has announced a full-scale expansion plan for cryptocurrency trading and the digital asset business overall. According to CNBC, Goldman Sachs Digital Asset Global Head Mathew McDermott stated at the 'Token2049' event held in Dubai, "We plan to actively engage in cryptocurrency-based lending and asset tokenization businesses while increasing cryptocurrency trading activities in the future."

McDermott emphasized, "More and more clients expect Goldman Sachs to actively participate in the cryptocurrency ecosystem," and emphasized that preparations are being made to implement this concretely.

This statement is interpreted as a movement to secure a leadership position in the digital asset market by Goldman Sachs, a traditional financial giant, amid the gradual recovery of demand for cryptocurrency by institutional investors. In particular, at a time when discussions on stablecoin and tokenization-related regulations are gaining momentum in the United States, Goldman Sachs's remarks are also gaining attention as they align with the acceleration of the institutionalization of the global cryptocurrency market.