Saturday, 11 July 2020

Goldman Sachs looking to create its own cryptocurrency

Goldman Sachs are conducting much research around tokenization according to the CEO.
“Tokenization is the direction in which the payment system will go said David Soloman.

Large U.S. investment bank Goldman Sachs Group are said to be interested in the exploration of launching a crypto asset like Bitcoin, citing the bank’s chief executive officer David Solomon.

The investment banker was speaking to French press, Les Echos newspaper, detailed that Goldman is conducting thorough research on tokenization.

Solomon noted that he found the process “interesting,” also adding that the global payment and remittance market would eventually integrate it.

He said:

“Tokenization is the direction in which the payment system will go. The method of digitizing currencies or assets to enable their smooth transfer over a permissioned ledger same as Bitcoin.

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