Goldman Sachs Launches Data Service to Help Investors Analyze Crypto Markets – Finance Bitcoin News

Global investment bank Goldman Sachs has launched a new data service in collaboration with MSCI and Coin Metrics to help investors analyze the crypto market. The new system is “designed to provide a consistent, standardized way to help market participants view and analyze the digital asset ecosystem,” Goldman detailed.

Goldman Sachs’ New Crypto Classification System

Global investment bank Goldman Sachs announced Friday “the launch of Datonomy, a new classification system for the digital asset market,” in collaboration with global index provider MSCI and crypto data firm Coin Metrics. Announcement details:

The new framework for the classification of digital assets is designed to provide investors, service providers, developers, and researchers a way to help monitor market trends, analyze portfolio risk and returns, and help build new products.

“Delivered as a new data service, Datonomy categorizes coins and tokens based on how they are used,” the investment bank explained, adding that the new system can be accessed as a direct data subscription feed from Goldman Sachs, MSCI, and Coin Metrics.

For example, Datonomy divides digital currencies into Value Transfer Coins and Specialty Coins. The latter is further divided into Meme Coins, Privacy Coins, and Remittance Coins.

Decentralized finance (defi) and Metaverse are digital asset applications listed on Datonomy. Defi applications are divided into Decentralized Exchanges, Derivatives Trading, Decentralized Lending, Stablecoin Issuers, Prediction Markets, Asset Management, Crowdfunding, and Insurance. Metaverse Applications are divided into Virtual Worlds, Games, and Non-Fungible (NFT) Ecosystems.

Goldman Sachs added:

This new classification system for digital assets aims to provide market participants with a consistent view of the market, allowing them to track trends across different industries, such as smart contract platforms and decentralized finance, screen assets with a range of different filters based on their goals. , and understand the aggregated nature of these assets at the portfolio level.

Stéphane Mattatia, global head of derivative licensing and thematic indices at MSCI, emphasized: “We believe that a consistent and standardized framework for the classification of digital assets is essential to support investors’ ability to assess the market.”

Anne Marie Darling, head of Marquee Client Strategy and Distribution at Goldman Sachs, told CNBC:

The digital asset ecosystem has really expanded over the last few years… We are trying to create a framework for the digital asset ecosystem that our clients can understand, as they increasingly need to think about performance tracking and risk management in digital assets.

Goldman Sachs built one crypto trading team in May last year. The company is executed first OTC crypto transactions in the form of bitcoin non-deliverable options (NDO) in March this year. In April, the bank offered its first bitcoin-backed loans.

What do you think about Goldman Sachs launching a data service to help investors analyze the crypto market? Let us know in the comments section below.

Kevin Helms

An Austrian Economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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