Goldman Sachs plans to spin-out its digital assets platform, Bloomberg News reports

(Reuters) - Goldman Sachs is speaking with potential partners as it plans to spin out its digital-assets platform into a new company for large financial firms to create, trade and settle financial instruments via blockchain technology, Bloomberg News reported on Monday.



Plans for the new company are in the early stages, but Goldman aims to execute the spin-out within the next 12 to 18 months, Mathew McDermott, the bank's global head of digital assets, said, according to the report.

Goldman Sachs did not immediately respond to a Reuters request for comment.

Source: Investing.com