Goldman Sachs has partnered with cryptocurrency financial data company Coin Metrics and investment group MSCI to create a new digital asset classification tool for investors.
The companies have come together to launch datonomy, a data service that classifies crypto coins and tokens based on how they are used, according to a Thursday (Nov. 3) press release.
Anne Marie Darling, head of marquee client strategy and distribution at Goldman Sachs, said in the release that the tech team-up “brings together MSCI’s expertise in critical decision support tools and services, Coin Metrics’ intelligence in the digital assets space, and Goldman Sachs’ innovative platforms paired with over 150 years of experience in financial markets to help solve this problem for clients.”
According to a January PYMNTS report, “The Corporate Treasury Shift: Asset Allocation and the New Cryptocurrency Option,” 58% of investment firms that operate in six or more international markets also use at least one cryptocurrency, and 96% of financial institutions (FIs) believe businesses would use stablecoins for transacting and investing.
With Goldman Sachs’ new datonomy classification system, the investment giant aims to reach that large demographic of crypto investors and offer them a new and more efficient way to manage crypto investments.
In an effort to make this new crypto classification tool accessible to the most users possible, datonomy can be accessed as a direct data subscription feed from all three collaborators, according to the release.
Digital asset management has become increasingly important for big investors. Goldman Sachs revealed last month that it is working to build technology and software to optimize the experience of clients and the software developers who create those tools.
Read more: Goldman Sachs Aims to Boost Engagement, Retention of Developers
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