Goldman Sachs Bank plans to create its own stablecoin

The organization’s representatives stressed that they “have no immediate intention of creating a coin”

28.01.2022 - 13:00

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The organization’s representatives stressed that they “have no immediate intention of creating a coin.”

What’s new? The largest US investment bank Goldman Sachs plans to create its own stablecoin, Bloomberg reports, citing the organization’s press service. The bank’s representatives stated that they have no immediate intention to issue the coin. The press release does not say who is a partner of Goldman Sachs.

Bloomberg’s material

What are Goldman Sachs’ plans? The bank’s digital asset global head, Matthew McDermott, said back in 2020 that the organization was considering issuing digital assets and was studying its “market viability.”

Goldman Sachs’ press service stressed:

“We continue to see value working closely with private institutions looking to create a ubiquitous stablecoin that meets legal and regulatory requirements and has transparent governance.”

It was previously reported that the US banks are teaming up to create a single stablecoin. Goldman Sachs was not among them, apparently, the bank is awaiting a final decision on cryptocurrency regulation in the United States.

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