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

Goldman Sachs is launching a new data service, in partnership with MSCI and Coin Metrics, to aid investors in analysing 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 investment bank Goldman Sachs announced Friday “the launch of Datonomy, a new classification system for the digital assets market,” in collaboration with global index provider MSCI and crypto data firm Coin Metrics. Here are the details of the announcement:

This new framework to classify digital assets is intended to assist investors, service providers and developers as well as researchers in helping to monitor market trends and analyze portfolio returns and risk.

“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.

Datonomy, for example, divides digital currency into Specialized Coins and Value Transfer Coins. These digital currencies can further be subdivided in Meme Coins Privacy Coins or Remittance Coins.

Metaverse and decentralized finance (defi), are two of the many digital asset apps listed on Datonomy. Decentralized exchanges, Derivatives Trading and Decentralized lending are all examples of Defi. Metaverse applications can be divided into Virtual Worlds and Gaming as well as Non-Fungible Ecosystems (NFT).

Goldman Sachs was the second to add:

The new digital asset classification system aims at providing market participants with an objective view. It allows them to screen assets using a variety of filters, depending on their objectives and to understand the aggregate properties of the assets at portfolio level.

Stéphane Mattatia, global 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.”

CNBC spoke with Anne Marie Darling from Goldman Sachs’ Marquee Client Strategy and Distribution.

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 clients can understand, because they increasingly need to think about performance tracking and risk management in digital assets.

Goldman Sachs created a cryptocurrency trading team last May. Goldman Sachs executed the first OTC crypto transaction, a bitcoin nondeliverable option (NDO), in March 2018. The bank issued its first loan backed by bitcoin in April.

How do you feel about Goldman Sachs creating a data platform to assist investors in analyzing crypto markets? Comment below to let us know your views.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.

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