Goldman Sachs Strengthens Virtual Asset Strategy… "Regulatory Clarity Essential for Institutional Capital Inflow"

Global investment bank Goldman Sachs has announced that it is strengthening its virtual asset (cryptocurrency) strategy. It also predicted that clear regulations could facilitate the inflow of capital from major financial institutions and accelerate industry expansion.

According to virtual asset specialist media The Block on the 1st (local time), Mathew McDermott, head of Goldman Sachs' digital asset division, attended the 'Token2049' event in Dubai and stated, "Regulatory clarity is a key requirement for the cryptocurrency industry to move to the next stage," and "Institutions must be able to allocate capital across the market for full-scale expansion to be possible."

He predicted, "Various lobbying activities are actively underway to organize regulations within the United States, and these movements will send positive signals to the global market." He also emphasized, "The stablecoin-related bill being discussed in Congress will provide a significant turning point for the industry," and "If regulations are established to allow financial institutions to easily adopt stablecoins, the use of digital assets could rapidly expand around major players."

Goldman Sachs is currently operating a virtual asset trading business through various products such as derivatives, futures, options, and ETFs, and is focusing on the tokenization of traditional financial products and the establishment of a 24-hour trading infrastructure based on its digital asset platform. This platform is planned to spin off with strategic partnerships next year.

Additionally, McDermott stated, "Customers have a high demand for the tokenization of money market funds (MMF), and if clear regulations are established, the tokenization market, including this area, will grow rapidly," predicting that "the spread centered on institutional investors will become full-scale."