Goldman Sachs is Exploring Ways to Tokenise Real Assets, NFTs

The US-headquartered lender is looking to see NFTs in the context of financial instruments.

By Radhika Parashar | Updated: 28 April 2022 17:27 IST

Goldman Sachs is Exploring Ways to Tokenise Real Assets, NFTs

Photo Credit: Bloomberg

Goldman Sach’s decision was revealed at the Financial Times Crypto and Digital Assets Summit

Highlights

Goldman Sachs is looking to see NFTs as financial instruments
Goldman Sachs invests regularly in crypto
The bank is trying to expand its crypto services

Not holding back on crypto-centric services, Goldman Sachs has announced its plans to see if real life assets can be tokenised along with non-fungible tokens (NFTs). The US-headquartered lender is looking to see NFTs in the context of financial instruments. Financial tokenisation refers to the process of transforming any assets into a digital token that can then be used, owned, and wired by the holder through a blockchain network, independent of a third-party intermediary.

“We are actually exploring NFTs in the context of financial instruments, and actually there the power is actually quite powerful. So, we work on a number of things,” CoinDesk quoted Mathew McDermott, global head of digital assets at Goldman Sachs as saying.

The statement was given at the Financial Times Crypto and Digital Assets Summit earlier this week.

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The move adds to an array of services that Goldman Sachs is working around, that have blockchain and cryptocurrencies in the centre.

The lender is a regular investor in crypto startups in addition to offering crypto-related financial instruments like BTC trading.

Earlier this month, the investment bank said it is planning to offer over-the-counter (OTC) options trading for Ethereum to its clients.

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The bank does not offer spot crypto trading but offers access to crypto Exchange Trader Funds (ETFs) and options trade. Institutional traders usually prefer to invest in crypto through a proxy, as opposed to holding tokens directly.

In January, the US investment bank had reportedly called the metaverse an $8 trillion (roughly Rs. 6,12,66,800 crore) opportunity.

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Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More