David Solomon: Goldman Sachs is considering the possibility of creating cryptocurrency

In an interview with Les Echos, David Solomon, CEO of Goldman Sachs, reported that the bank is engaged in serious research in the field of tokenization. It is quite possible that the financial giant will follow the example of JPMorgan, which intends to issue steablecoin.

Commenting on the possibility of launching their own cryptocurrency, the executive director of an investment bank noted that currently leading financial institutions around the world are studying the possibilities of tokenization, steklkoinov, as well as instant payments. Solomon did not answer unequivocally whether the company is in talks with Facebook regarding their Libra crypto project or not, but said that in general their concept seems to be Goldman Sachs “interesting.”

Solomon drew attention to the fact that technology giants such as Facebook are likely to strive to avoid the constraints imposed by regulators that traditional banking institutions often face. So, it is assumed that they will be more likely to cooperate, rather than to become separate financial institutions.

Meanwhile, the financial holding JPMorgan Chase, whose representatives back in January 2019 were pessimistic about cryptocurrency, are already preparing to test their own stablebcoin. It is expected that it may start at the end of this year, as soon as the necessary permits are received from the regulators.