Goldman Sachs Files Patent for Blockchain Solution for Interbank Settlements
Main page News, Banking, Blockchain, Goldman Sachs

Investment bank Goldman Sachs has recently filed a patent application for a solution that integrates blockchain technologies into an interbank settlements mechanism.

According to the documents, the solution is based on smart contracts applied to financial instruments. The latter include fractional reserve banking, insurance, bonds, tokenized products and margin loans.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The patent aims to facilitate the execution of transactions in a networked computing environment suitable for submitting token claims. This is the purpose of the system architecture.

It has previously been learned the institution is ready to invest in crypto projects, whose valuation has declined following the collapse of cryptocurrency exchange FTX.

According to Mathew McDermott, head of digital assets at the bank, the company intends to expand the division's staff from the current 70 employees.

Read also:
Please describe the error