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Goldman Sachs files virtual currency patent

By NexChange

Lloyd Blankfein Goldman Sachs

Goldman Sachs CEO Lloyd Blankfein likes to point out that his investment bank is actually a tech firm. Indeed, according to some reports, Goldman employs more programmers and engineers than Facebook.

So, I guess this is what they’re up to:

Goldman Sachs has made a patent application for a cryptocurrency settlement system in a move that underlines bank hopes that the architecture behind bitcoin can revolutionise global payments, writes the Financial Times. (paywall)

The application for a new virtual currency, dubbed “SETLcoin” by the bank, said it would offer “nearly instantaneous execution and settlement” of trades involving assets including stocks and bonds.

Photo: Fortune Live Media




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