Goldman Sachs prepares its virtual currency

Life gives you surprises, even if you’re a big financial company. And that’s because, just a few months after presenting himself to the crypto world as one of Ethereum Code biggest critics. Now Goldman Sachs is preparing its own virtual currency. An irony that has not escaped Binance’s founder and CEO, Changpeng Zhao, who in the day’s Tweet asks in a joking tone if the bank will enter decentralized finance:

Is Goldman Sachs letting down the followers of Bitcoin?

A virtual currency for Goldman
Just a few months ago, a report by Goldman Sachs, in which the financial institution referred to Bitcoin, was leaked to the crypto community. It described the virtual currency as a purely speculative asset, and stated that it would not recommend any of its clients to acquire cryptomoney. Defrauding the hopes of those within the crypto world who expected support for BTC from the bank.

However, things could be changing at one of the largest banks in the world. For, with the hiring of Mathew McDermott as Goldman Sachs‘ new Head of Digital Assets, the company appears to be changing its position on virtual currencies. Exploring, as McDermott said in an interview with CNBC, the possibility of issuing its own virtual currency.

This would not only be a major correction by Goldman Sachs. But it would also represent a great step forward for cryptomonies in general, as opposed to the opening of a bank so unwilling to issue them. This does not mean that members of the crypto community like Changpeng Zhao cannot laugh at the irony of the situation:

„Did I hear that Goldman Sachs is issuing a stablecoin? Will they go into #DeFi?“

Although clearly for the time being Goldman Sachs will not enter the world of decentralized finance. Issuing its own virtual currency would be a perfect example of how Blockchain technology, and digital assets are conquering the world’s leading companies, whether they want it or not.