According to ME News, on October 18 (UTC+8), David Solomon, CEO of investment bank Goldman Sachs, stated during the earnings call on October 13 that tokenization is becoming a significant trend across multiple asset classes, potentially driving more products, clients, and business. The bank has already tokenized bonds, money market funds, and certain client real estate assets.
DeFi, prediction markets, and automated trading are also under discussion, but Goldman Sachs has not announced any specific products related to them. Solomon noted that blockchain-related activities are currently still small in scale.
Goldman Sachs is using its proprietary GS DAP platform to provide blockchain-based financial asset infrastructure and is participating in the tokenization services launched in July by the Depository Trust & Clearing Corporation (DTCC), evaluating scalable applications. Solomon stated that tokenization can reduce costs, automate processes, and improve liquidity across asset classes.
Solomon stated that Goldman Sachs supports the passage of the CLARITY Act, despite having reservations about certain provisions, and is engaged in discussions with regulators regarding market rules. The bank reported net revenue of $18.68 billion for the third quarter, with revenue from its equities business rising 72% year-over-year to $6.4 billion. (Source: ODAILY)
Goldman Sachs CEO Praises Tokenization as Key to Expanding Financial Markets
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Summary
On October 13, Goldman Sachs CEO David Solomon told digital asset news outlets that tokenization is a growing trend across asset classes, opening doors for new products and clients. The bank has tokenized bonds, money market funds, and real estate assets. Risks associated with DeFi exploits remain an internal topic of discussion, though no products have been launched yet. Blockchain initiatives are still on a small scale, with GS DAP and DTCC’s July tokenization service currently active. The bank supports the CLARITY Act and participates in regulatory discussions. Q3 net revenue reached $18.68 billion, with stock revenue up 72% to $6.4 billion.
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