Goldman Sachs has announced its intention to explore strategic opportunities for spinning out its technology platform, GS DAP, from the Digital Assets business. The move aims to establish GS DAP as an industry-owned distributed technology solution, pending regulatory approvals. This decision is part of a broader vision to create a distributed ecosystem for seamless and efficient interoperability among market participants.

GS DAP is an award-winning platform designed to cater to the needs of digital capital markets. Developed within Goldman Sachs' Digital Assets business, the potential spin-out seeks to ensure a long-term solution for digital financial services by creating an independent company separate from Goldman Sachs.

Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, stated: “We view permissioned distributed technologies as the next structural change to financial markets and are already demonstrating the meaningfulness of the technology’s perceived benefits.” He emphasized that delivering this technology could redefine market connectivity and infrastructure composability while offering new commercial opportunities.

Tradeweb has been introduced as the first strategic partner for GS DAP. The collaboration will focus on integrating Tradeweb's trading and liquidity capabilities across fixed income markets to develop new commercial use cases for the platform. Chris Bruner, Chief Product Officer at Tradeweb, expressed enthusiasm about this partnership: “Our goal is to create and utilize a solution that ushers in a new wave of access, liquidity, and interoperability for the digital financial markets.”

Goldman Sachs plans to continue scaling its Digital Assets business while advancing GS DAP's technological capabilities. The platform will maintain its delivery of multi-jurisdictional solutions across various asset classes.

For more information about GS DAP visit: https://developer.gs.com/discover/gs-dap.