Goldman Sachs's digital assets unit plans fintech spin-out

Goldman Sachs is exploring the potential spin-out of its technology platform under the bank’s digital assets division.

A source familiar with the matter says the plan is in early stages, with a spin-out anticipated within 12 to 18 months.

The bank’s digital assets business has been significant in advancing blockchain technology and launching crypto-linked trading products.

This development follows the US Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds earlier this year.

Recent Goldman Sachs developments

Timeline
01-Jun-2021 💼 Ex-Goldman Sachs exec launches $150m VC fund for Japanese startups Kathy Matsui launches $150M women-led fund. MPower Fund focuses on ESG investing in startups.
04-May-2021 🔐 Goldman Sachs-backed cybersecurity firm Acronis nets $250m from CVC Capital Acronis secures over $250M in funding Plans to double workforce and expand partner network
03-Mar-2021 🏦 Report: Goldman Sachs to hire 100 tech employees in Singapore Goldman Sachs to hire 100 tech staff in Singapore Headcount in Singapore to exceed 1,000 employees
13-Feb-2020 🔒 Goldman Sachs-backed cybersecurity firm Cyfirma raises series A funding Cyfirma secures Series A funding; total $8M now Funds will boost cyber threat visibility in Asia, US
12-Jan-2016 🏢 He quit Goldman Sachs to try conquer Asia’s online property market Spacious improves Hong Kong property search experience Startup expands to Taiwan, mainland China, and more

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