Goldman Sachs May Follow JP Morgan to Launch Own Cryptocurrency

Goldman Sachs will launch its cryptocurrency soon? During the interview with French news source Les Echos on 27 June, Goldman Sachs CEO David Soloman said that the company is performing extensive research on tokenization, with the possibility to follow JPMorgan Chase launching their own cryptocurrency.

During the interview, Soloman refused to comment whether Goldman Sachs is involved in Facebook’s Libra cryptocurrency project. However, Soloman believed the principle of cryptocurrency project is interesting and the future of payment systems will head towards tokenization and stablecoins. He also assumed that “all major financial institutions around the world are looking at the potential of tokenization, stablecoins and frictionless payments.”

While it’s too early to say which platform will win at the end, Soloman believed that crypto regulation is coming and companies like Facebook will seek partnerships to develop Libra instead of becoming financial institutions themselves.

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