• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Digital News Updates
  • Home
  • News
  • Politics
  • Business

Goldman Sachs Explores Spin-Out of Digital Assets Technology Platform

November 18, 2024

Goldman Sachs is considering spinning out its technology platform under the bank’s digital assets business, the company announced on Monday. The spin-out is still in its early planning stages, with the firm aiming to establish the new entity within the next 12 to 18 months.

The platform, known as GS DAP, focuses on digital assets technology and will collaborate with Tradeweb Markets, a platform for rates and credit trading, marking its first partnership in an effort to expand the platform’s applications. The bank indicated that separating the technology platform from Goldman Sachs will enable it to better pursue future opportunities in digital financial services.

Goldman Sachs’ digital assets division has played a key role in promoting blockchain technology and crypto-related trading products. The move comes at a time when the cryptocurrency sector is experiencing significant growth, bolstered by regulatory approvals such as the U.S. Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds earlier this year. Bitcoin, the leading cryptocurrency, has more than doubled in value in 2024, while crypto stocks have seen a rise in response to broader market trends, including President-elect Donald Trump’s pledge to position the U.S. as a global leader in cryptocurrency.

As Goldman Sachs explores this spin-out, it continues to position its digital assets business for future growth within the rapidly evolving sector.

By: DNU staff

Filed Under: Business

No related articles Found.

Primary Sidebar

Digital News Updates Logo

Recent News Posts

  • North Dakota Schools Chief Kirsten Baesler Confirmed as U.S. Assistant Secretary of Education
  • Governor Gianforte Praises $1.5 Million Expansion of Western Montana State Veterans Cemetery
  • Montana Coal Board Awards $1.8 Million for Public Safety and Infrastructure Projects
  • Watchdog says Biden Education Department defied court order on Title IX enforcement

Recent Politics Posts

  • Daines Introduces Bill to Protect Religious Student Groups on College Campuses
  • USITC Advances Probe Into Russian Palladium Imports After Montana Delegation Push
  • Knudsen Leads 27-State Coalition Challenging California’s Magazine Ban
  • Zinke Votes for Short-Term Funding Bill to Avert Government Shutdown

Recent Business Posts

  • Wall Street Rallies to Fresh Highs After Fed Rate Cut
  • Governor Gianforte Welcomes Rivian as First Electric Vehicle Manufacturer in Montana
  • Montana State opens quantum computing facility
  • Warren Buffett Marks 95th Birthday With Reflection on Legacy, Berkshire’s Future

Copyright © 2025 Digital News Updates, All Rights Reserved.