Goldman Sachs, the largest investment bank in the US, has just announced that in spite of the fact that it has been studying the possibility of launching a stablecoin of its own for some time, the launch is not planned in the near future, Bloomberg reports citing the bank's press service.
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According to the institution, the creation of a stablecoin is not an immediate goal. In particular, the bank has said:
"We continue to see value working closely with private institutions looking to create a ubiquitous stablecoin that meets legal and regulatory requirements and has transparent governance."
In 2020, the head of the bank's digital assets department, Matthew McDermott, said the bank is not ruling out the possibility of issuing its own digital asset and is studying its "commercial viability."
These statements came shortly after it became known the stablecoin project Diem (formerly Libra) could fail due to pressure from regulators.