Goldman Sachs (GS) is speaking with potential partners as it plans to spin out its digital-assets platform into a new company for large financial firms to create, trade and settle financial instruments via blockchain technology, reported Bloomberg’s Anna Irrera. Plans for the new company are in the early stages, but the bank is in talks with a number of market participants on the plans as it continues to build out the platform’s capabilities and develop new use cases, Bloomberg quotes Mathew McDermott, Goldman’s global head of Digital Assets, as having said in an interview. The goal is to execute the spin-out within the next 12 to 18 months, subject to regulatory approvals, according to McDermott, who is quoted as having said: “It’s in the best interest of the market to have something that is industry-owned.”
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