Goldman Sachs CEO Says Tokenization Will Expand Financial Market Opportunities

Goldman Sachs CEO David Solomon stated during the earnings call on October 13 that tokenization has become an important trend covering multiple asset classes, potentially bringing more products, clients, and business. The bank has already achieved tokenization of bonds, money market funds, and some client real estate. DeFi, prediction markets, and automated trading are also under discussion, but no specific products have been announced. Solomon pointed out that blockchain-related activities are still relatively small in scale. Goldman Sachs uses its own GS DAP platform to provide blockchain financial asset infrastructure and is participating in the tokenization services launched by the Depository Trust & Clearing Corporation (DTCC) in July, assessing scalable applications. He stated that tokenization can reduce costs, automate processes, and improve liquidity across asset classes. Additionally, Solomon expressed support for the passage of the CLARITY Act, although he has reservations about certain provisions, and is involved in discussions with regulators regarding market rules. The bank reported a net revenue of $18.68 billion in the third quarter, with equity business revenue increasing by 72% year-on-year to $6.4 billion.

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