Cryptocurrency

Goldman Sachs prepares for its virtual currency

Life gives you surprises, even if you are a great companies financial. And is that just a few months after be filed with the crypto world as one of the biggest critics of Bitcoin. Now Goldman Sachs is preparing its own virtual currency. An irony that has not escaped the founder and CEO of Binance, Changpeng Zhao, who in the Tweet of the day wonders in jest if the bank is going to finance decentralized:

A virtual currency for Goldman

Just a few months, was leaked to the crypto community a report produced by Goldman Sachs, in which the financial institution is referring to Bitcoin. Describing the virtual currency as an asset merely speculative, and stating that I would not recommend any of their clients the acquisition of the criptomoneda. Thus betraying the hopes of those within the crypto world waiting show of support to BTC by the bank.

However, things could be changing in one of the largest banks in the world. Well, with the hiring of Mathew McDermott as the new Director of Digital Assets of Goldman Sachs, the company seems to be changing its position with respect to virtual currencies. Exploring, as said McDermott in an interview with CNBC, the possibility of issuing its own virtual currency.

Goldman Sachs is preparing its own virtual currency with Mathew McDermott to the head

This would not only be a major correction on the part of Goldman Sachs. But that also would represent a big step forward for the cryptocurrencies in general, before the opening of a bank as important: their emission. That does not mean that members of the crypto community as a Changpeng Zhao not to laugh of the irony of the situation:

“Did you hear that Goldman Sachs is issuing a stablecoin? How will the #DeFi?“

Although clearly of time Goldman Sachs did not enter the world of finance is decentralized. The issuance of its own virtual currency would be a perfect example of how the technology of Blockchain and digital assets are conquering the world’s major companies, whether they want it or not.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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