The head of Goldman Sachs hinted at the release of its own cryptocurrency

Investment bank Goldman Sachs may follow the path of JPMorgan, which is preparing to launch its own cryptocurrency JPM Coin for settlements between corporate clients. The head of the financial institution, David Solomon, spoke in an interview with Les Echos about the work being done in the field of asset tokenization.

“Lets assume that every major financial institution in the world is looking at the potential for tokenization, stablecoins, and unencumbered asset settlements,” said Solomon.

He did not answer the question whether the bank is in talks with over the Libra blockchain project. However, he noted that stablecoins are the future of the payments industry.

Tech companies wont try to compete directly with banks, Solomon said. Rather, they will cooperate, as, for example, Goldman Sachs and Apple in their project in the field of payment cards, the specialist said.

“Do you think the tech giants, who are already in trouble right now, want to get caught up in the same regulatory constraints that JPMorgan or Goldman Sachs do? It seems to me that they will try to enter into cooperation with banks, but they will not become banks themselves, ”explained the head of Goldman Sachs.

announced the launch of its cryptocurrency on June 18. Three days ago, it became known that JPMorgan will test its stablecoin with the participation of corporate clients. Interest in JPM Coin has already been shown in Europe, USA and Japan.