Goldman Sachs Exploring a Digital Coin for Payments

In an interview with a French newspaper Goldman Sachs CEO David Solomon said that his company is “absolutely” looking at digital currencies; he said, “Assume that all major financial institutions around the world are looking at the potential of tokenization, stable coins and frictionless payments”; JPMorgan Chase has said it developed its own stable coin, JPM Coin, for clients to use in cross-border payments; Solomon did not comment on Facebook’s Libra initiative but did say that stable coins tied to real currencies are “the direction in which the payment system will go.’’ Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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