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Goldman Sachs executive: crypto asset market will grow in 2024

Goldman Sachs executive: crypto asset market will grow in 2024

CointimeCointime2023/12/29 02:13
By:Cointime

Mathew McDermott, Head of Digital Assets at Goldman Sachs, stated in an interview with Fox Business that one of the biggest developments in the digital asset space last year was the increasing involvement of traditional financial institutions over the past 12-18 months. This has happened as people are increasingly realizing that digital assets can "improve efficiency, reduce risk, and have many very positive impacts on business models and enterprise operations." This is helped by the increased transparency of regulation worldwide.

McDermott said that digital assets are in a stage where people are more widely accepting the technology, which allows the market to focus on "building and creating scale," which is "where you really start to see business value propositions emerge." I think for me, next year we will start to see the market develop. We will start to see the emergence of secondary liquidity on-chain, which is a critical driving factor. So for me, this is one of the key developments next year.

McDermott also said that adopting the technology more will enhance next year's collateral liquidity by addressing issues in the market's financial channels.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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