Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
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 partnership with MSCI and Coin Metrics to help investors analyze crypto markets. The new system is “designed to provide a consistent, standardized way to help market participants view and analyze the digital asset ecosystem,” Goldman said.
Goldman Sachs’ new crypto classification system
Global investment bank Goldman Sachs announced on Friday “the launch of Datonomy, a new classification system for the digital asset market,” in partnership with global index provider MSCI and crypto data firm Coin Metrics. Announcement Details:
The new digital asset classification framework is designed to give investors, service providers, developers and researchers a way to monitor market trends, analyze portfolio risk and return, and help build new products.
“Delivered as a new data service, Datonomy classifies 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 specialized coins. The latter is further divided into Meme Coins, Privacy Coins and Remittance Coins.
Decentralized finance (defi) and Metaverse are among the digital asset applications listed in 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, Gaming and Non-Fungible (NFT) ecosystems.
Goldman Sachs added:
This new classification system for digital assets aims to give market participants a consistent view of the market, allowing them to track trends across different industries, such as smart contract platforms and decentralized finance, screening assets with a variety of different filters based on their objectives. , and understand the aggregate characteristics of these assets at the portfolio level.
Stéphane Mattatia, Global Head of Derivatives Licensing and Thematic Indices at MSCI, said: “We firmly believe that 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, told CNBC:
The digital asset ecosystem has really expanded over the last couple of years … We’re trying to create a framework for the digital asset ecosystem that our customers can understand because they increasingly need to think about performance tracking and risk management in digital assets.
Goldman Sachs formed a crypto trading team last May. The firm executed its first OTC crypto transaction in the form of a bitcoin non-deliverable option (NDO) in March this year. In April, the bank offered its first bitcoin-backed loan.
What do you think about Goldman Sachs launching a data service to help investors analyze crypto markets? Let us know in the comments section below.
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