The Wall Street giant says it wants GS DAP to ultimately be an industry-owned platform as part of a distributed ecosystem using blockchain to streamline institutional trading and reduce settlement times. The bank has already struck a deal with Tradeweb to include its trading and liquidity capabilities across the fixed income spectrum in an effort to bring new commercial use cases to GS DAP. Mathew McDermott, global head, digital assets, Goldman Sachs, says: “We view permissioned distributed technologies as the next structural change to financial markets and are already demonstrating the meaningfulness of the technology’s perceived benefits. “Delivering a distributed technology solution to a wide cross-section of financial market participants has the potential to redefine market connectivity, infrastructure composability, and to deliver a new suite of commercial opportunities for the buy- and sell-side. We view this as an important next step for our industry as we continue to build-out our digital asset offerings for our clients.” GS DAP is part of the Goldman Sachs Digital Assets business set up in 2022. The bank plans to keep the digital assets team.