Global investment bank Goldman Sachs has launched a new data service in collaboration with MSCI and Coin Metrics to help investors analyze the crypto market. The new system “is designed to provide a consistent and standardized way to help market participants view and analyze the digital asset ecosystem,” Goldman detailed.
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 collaboration with global index provider MSCI and crypto data company Coin Metrics. Announcement details:
The new framework for classifying digital assets is designed to provide investors, service providers, developers, and researchers with ways to help monitor market trends, analyze portfolio risk and returns, and help build new products.
“Delivered as a new data service, Datonomy categorizes 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 Special Coins. The latter is divided into Meme Coin, Privacy Coins, and Remittance Coin.
Decentralized finance (defi) and Metaverse are among the digital asset applications listed on Datonomy. Defi’s 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 provide market participants with a consistent view of the market, to track trends in various industries, such as smart contract platforms and decentralized finance, screen assets with different filters based on the purpose. , and understand the aggregate properties of these assets at the portfolio level.
Stéphane Mattatia, head of global derivatives licensing and thematic indices at MSCI, said: “We 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 grown a lot over the last few years … We are trying to create a framework for the digital asset ecosystem that our clients can understand, as they need to think about performance tracking and risk management in digital assets.
Goldman Sachs formed a crypto trading team in May last year. The company did it first OTC crypto transactions in the form of bitcoin non-deliverable option (NDO) in March this year. In April, the bank offered the first bitcoin backed loans.
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