News, data and analysis on tokenized assets, market design and digital economic systems.
Builder, through its Digital Assets unit, of GS DAP, a permissioned tokenisation and settlement platform the bank said in November 2024 it intended to spin out as an industry-owned company, on the argument that a platform on a bank's balance sheet cannot reach broad institutional adoption.
Investment bank founded in 1869 whose Digital Assets unit built GS DAP, a permissioned tokenisation and settlement platform running on Digital Asset's Daml technology and used from primary issuance through post-trade. In July 2025 it launched a mirrored-record service with BNY under which investors subscribe to money market funds through BNY's LiquidityDirect while a token representing the share value is created on GS DAP, covering funds from BlackRock, BNY Investments Dreyfus, Federated Hermes, Fidelity and Goldman Sachs Asset Management, with the stated aim of making fund shares transferable as collateral. The bank said in November 2024 that it intended to spin GS DAP out as an industry-owned company, naming Tradeweb as first strategic partner and later targeting mid-2026, on the argument that a platform held on a bank's balance sheet cannot reach broad institutional adoption.
Developments in which The Goldman Sachs Group, Inc. is a named party, newest first.
DTCC started limited production trading on its DTC Tokenization Service in July 2026, covering Russell 1000 constituent stocks, major ETFs and US Treasury securities. JPMorgan, BlackRock and Goldman Sachs are among more than 50 participating firms, with full…
DTCC began limited production trades on the DTC Tokenization Service in July 2026, covering Russell 1000 constituents, large index-tracking exchange-traded funds and US Treasury bills, notes and bonds, with commercial launch targeted for October 2026. More than 50 firms, among them BlackRock, Goldman Sachs, JPMorgan, Kraken and Circle, joined the industry working group; DTCC said tokenized holdings carry the same entitlements and ownership rights as assets held in conventional form.
BNY and Goldman Sachs launched a service under which subscriptions to money market funds placed through BNY's LiquidityDirect platform are mirrored as tokens on GS DAP, the Goldman Sachs Digital Assets platform built on Digital Asset technology. BNY continues to keep the official books, records and settlements for the funds. BlackRock, BNY Investments Dreyfus, Federated Hermes, Fidelity Investments and Goldman Sachs Asset Management took part at launch.
The Hong Kong SAR government settled an HK$800m tokenised green bond with a 365-day tenor, priced the previous day at 4.05%, on Goldman Sachs's GS DAP private blockchain platform. The HKMA's Central Moneymarkets Unit acted as clearing and settlement system, with HSBC as trustee and custodian alongside Bank of China (Hong Kong).
The European Investment Bank issued a €100m two-year zero-coupon bond as digitally native tokens registered on the Ethereum public blockchain, priced at 101.213% for a re-offer yield of -0.601% and maturing on 28 April 2023. Goldman Sachs, Santander and Societe Generale were joint lead managers, Societe Generale-FORGE acted as registrar and settlement agent, and the underwriters paid the issuer using a representation of central bank money provided with the Banque de France.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
No tracking pixels. Unsubscribe in one click. We do not sell or share the list.