Global funding financial institution Goldman Sachs has launched a brand new information service in collaboration with MSCI and Coin Metrics to assist buyers analyze crypto markets. The new system is “designed to provide a consistent, standardized way to help market participants view and analyze the digital assets ecosystem,” Goldman detailed.
Goldman Sachs’ New Crypto Classification System
Global funding financial institution Goldman Sachs introduced Friday “the launch of Datonomy, a new classification system for the digital assets market,” in collaboration with international index supplier MSCI and crypto information agency Coin Metrics. The announcement particulars:
The new framework for digital belongings classification is designed to present buyers, service suppliers, builders, and researchers a means to assist monitor market developments, analyze portfolio danger and returns, and assist construct new merchandise.
“Delivered as a new data service, Datonomy classifies coins and tokens based on how they are used,” the funding financial institution defined, including that the brand new system may be accessed as a direct information subscription feed from Goldman Sachs, MSCI, and Coin Metrics.
For instance, Datonomy divides digital currencies into Value Transfer Coins and Specialized Coins. The latter is additional subdivided into Meme Coins, Privacy Coins, and Remittance Coins.
Decentralized finance (defi) and Metaverse are among the many digital asset functions listed in Datonomy. Defi functions are divided into Decentralized Exchanges, Derivatives Trading, Decentralized Lending, Stablecoin Issuers, Prediction Markets, Asset Management, Crowdfunding, and Insurance. Metaverse functions are divided into Virtual Worlds, Gaming, and Non-Fungible (NFT) Ecosystems.
Goldman Sachs added:
This new classification system for digital belongings goals to present market members with a constant view of the market, permitting them to monitor developments throughout completely different industries, similar to good contract platforms and decentralized finance, display screen belongings by a variety of various filters primarily based on their targets, and perceive aggregated properties of those belongings on the portfolio stage.
Stéphane Mattatia, international head of derivatives licensing and thematic indexes at MSCI, opined: “We firmly believe a consistent and standardized framework for the classification of digital assets is essential to support investors’ ability to evaluate the market.”
Anne Marie Darling, head of Marquee Client Strategy and Distribution at Goldman Sachs, advised CNBC:
The digital asset ecosystem has actually expanded over the past couple of years … We’re making an attempt to create a framework for the digital asset ecosystem that our purchasers can perceive, as a result of they more and more want to take into consideration efficiency monitoring and danger administration in digital belongings.
Goldman Sachs fashioned a crypto buying and selling staff in May final yr. The agency executed its first OTC crypto transaction within the type of a bitcoin non-deliverable choice (NDO) in March this yr. In April, the financial institution provided its first bitcoin-backed mortgage.
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