Goldman Sachs Accelerates Crypto Innovation with Three New Real-World Assets (RWA) Tokenization Ventures

Goldman Sachs is stepping up its game in the crypto market, aligning with major financial players like Blackrock and Fidelity. Mathew McDermott, head of digital assets at Goldman Sachs, shared with Fortune that the bank is expanding its crypto services. Key focus areas include tokenizing assets such as money market funds and real estate. Three tokenization projects are set to roll out by the end of the year, including one in the U.S.

Recently, Goldman Sachs hosted a digital assets summit in London, highlighting the strong interest from clients. McDermott emphasized that the bank is driven by meaningful innovation rather than trend-following, stating, “There’s no point doing it just for the sake of it.” He added that client feedback strongly indicates that tokenization could transform investment methods, noting: “The definite feedback is, this is something that actually will change the nature of how they can invest.”

Despite internal differences on crypto’s viability, with CIO Sharmin Mossavar-Rahmani expressing skepticism, McDermott underscored the bank’s institutional focus. This approach includes trading crypto derivatives and participating in spot bitcoin exchange-traded funds (ETFs). McDermott observed that this year has seen an increase in the breadth and variety of products clients want, highlighting: “We’ve continued to see, certainly this year, an uptick and a broadening in the product suite that clients would like to see available.”

Tokenization remains a key element of Goldman Sachs’ strategy. The bank has a track record of significant tokenization projects and aims to develop marketplaces for tokenized assets. McDermott also pointed out that regulatory changes following the U.S. presidential election could further expand Goldman Sachs’ involvement in the crypto space.

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