Precious Move for SHIB, XRP and These Coins from Goldman Sachs!

Investment bank Goldman Sachs (GS) has announced its partnership with MSCI and Coin Metrics to help investors monitor the market. Unlocks SHIB, XRP, Bitcoin and hundreds of cryptocurrency classification systems.

Goldman Sachs classifies SHIB and hundreds of cryptocurrencies

The banking giant has created a classification system where institutional investors can follow the market more adequately. Market participants, dubbed Datonomy, will be able to follow trends in different crypto segments, including smart contract platforms and DeFi. At the same time, they will be able to scan various artifacts through a convenient middle face.

According to the announcement, Goldman Sachs will soon present its classification system for Bitcoin, SHIB, SOL and numerous altcoins. The newly launched service carries Datonomy, MSCI and Coin Metrics subsidiary. These three companies are developing institutional tools to comfortably monitor the highly volatile cryptocurrency market.

Anne Marie Darling, customer strategy lead for Goldman Sachs’ Marquee platform, stated that the cryptocurrency market has grown significantly in recent years. She also added that the new data service will facilitate risk management for customers.

What is Goldman Sachs Datanomy?

The Wall Street bank emphasizes that investors need a standardized framework for crypto classification. He also stated that there is an increasing need for performance monitoring and risk management in the market. Goldman Sachs is doing this in collaboration with the Datanomy project MSCI and Coin Metrics. Additionally, he explained that the new classification system will provide market participants with a balanced view of the market:

Datonomy was designed to fill this gap as the cryptocurrency market matures and can serve as a direct basis for portfolio management, reporting, benchmarking, research and analysis.

New tool focuses on institutional investors

According to the statement, MSCI will be the sole administrator of the new classification system. In another development, MCSCI announced on Thursday that it has launched its own cryptocurrency indices in collaboration with Menai Financial Group and Compass Financial Technologies. Indices attempt to track the performance of cryptocurrencies linked to market-to-market and technology platforms that support smart contracts. This attack, especially for institutional investors, paves the way for global adoption.

Thanks to the new tool, institutional investors will now have a variety of viewing possibilities to understand cryptocurrencies. These include cryptocurrencies and instruments from all areas of the market:

  • Metaverse coins
  • Blockchain tools
  • Decentralized finance (DeFi) tokens
  • Private tokens
  • Application tools
  • value transfer tokens
  • business services

Despite the significant market correction of the year, Goldman Sachs is investing more in the cryptocurrency. As you follow, the Wall Street juggernaut offered its first Bitcoin-backed loan in April. Goldman Sachs made its first undeliverable Ethereum in June.

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