Goldman Sachs could hop onto NFTs and tokenize real assets

The banking giant says that it is exploring non-fungible tokens (NFTs) while referring to them as financial instruments. A person heading the digital asset department says, “power is actually quite powerful.”

The globally exposed banking Goliath is currently scrutinising non-fungible tokens (NFTs). It said that it is also exploring the possibility of tokenizing real assets. It hints that the bank is ready to dive deeper into the crypto industry.

We are actually exploring NFTs in the context of financial instruments, and actually there the power is actually quite powerful. So we work on a number of things.

At an interview with the Financial Times, Mathew McDermott, global head of digital assets at Goldman Sachs made the claims. He also spoke on issues like bringing price stability to tradable digital assets and complimented the stable NFT market. Mathew further spoke about the current economic and geopolitical situation and how crypto has played its part.

Goldman Sachs started offering bitcoin derivatives to investors in 2021 and also completed its first over the counter crypto trade with Galaxy Digital (which calls itself a bridge between “crypto and the institutional worlds”) in March 2021