The advent of cryptocurrencies has caused a fundamental shift to a lot of companies and industries, and now, it seems that crypto assets have become so big that banks are currently looking into the possibility of launching their tokens. Yesterday, David Solomon, the Chief Executive Officer of banking giant Goldman Sachs confirmed to French newspaper Les Echos that the bank was looking into tokenization.
The statement speaks to the extensive effect of crypto assets. Banks, which didn’t consider these assets as competition years ago, are coming to acknowledge that the assets exist and could very much make them obsolete.