Goldman Sachs CEO: Tokenization will expand opportunities in the financial market

Goldman Sachs CEO David Solomon stated during the earnings call that tokenization is becoming an important trend covering multiple asset classes, which could bring more products, clients, and business. The bank has achieved tokenization of bonds, money market funds, and some client real estate. DeFi, prediction markets, and automated trading are also under discussion, but Goldman Sachs has not announced any specific related products.

Solomon mentioned that blockchain-related activities are currently still on a small scale. Goldman Sachs uses its own GS DAP platform to provide blockchain financial asset infrastructure and participates in the tokenization services launched by the Depository Trust & Clearing Corporation (DTCC), assessing scalable applications. Solomon stated that tokenization can reduce costs, automate processes, and improve liquidity across asset classes. Solomon indicated that Goldman Sachs supports the passage of the CLARITY Act, although there are reservations about certain provisions, and participates in discussions with regulators regarding market rules. The bank's net revenue for the third quarter was $18.68 billion, with stock trading revenue increasing by 72% year-over-year to $6.4 billion.