Goldman Sachs Will Not Launch a Stablecoin Any Time Soon

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US investment bank Goldman Sachs, which is exploring the possibility of creating its own stablecoin with partners, has said it does not plan to launch it in the near future, Bloomberg reports.

Goldman Sachs has noted there is no goal of creating a stablecoin immediately. The bank has not revealed who are its partners in this initiative. According to the press release:

“We continue to see value in working closely with private institutions striving to create a stablecoin that complies with legal and regulatory requirements and has transparent governance.”

The head of the bank’s digital assets department, Matthew McDermott, said 2 years ago Goldman Sachs did not exclude the possibility of issuing its own digital asset and was studying its “commercial viability.”

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