The move would mark one of the most significant ventures into tech by a bank, as Goldman Sachs looks to now benefit from an extended period of building growth equity.
The move comes after the bank also elevated its push into digital currency, promoting Mathew McDermott as the firm’s global head of digital assets.
McDermott has spent 14 years at the firm and was previously the global head of cross asset financing. His appointment was one of a plethora for the bank as it continues its expansion into the digital currency space.
The investment complements the recent appointments as Goldman Sachs seeks to strengthen its position within tech at a time when the banking and finance sector becomes increasingly digitised during the current period.
Goldman Sachs has outlined that tokenization and stablecoins may well be a focus for the bank as part of its efforts to modernize the legacy payment systems.