Goldman Sachs Launches GS DAP™

In a groundbreaking move, Goldman Sachs has officially launched its Digital Asset Platform, (GS DAP™), signaling a new era for financial markets. This platform, built in collaboration with Digital Asset, has already seen its first major application — the European Investment Bank (EIB) issuing a fully digital bond on a private blockchain.
A Leap Forward in Tokenization
Goldman Sachs’ venture into the world of tokenization and blockchain technology took a giant step forward with the launch of GS DAP™, just one year after engaging with Digital Asset. The goal? To streamline and modernise the entire lifecycle of tokenized assets, from digital currencies to complex financial instruments.
The driving force behind this new platform is Digital Asset’s Daml smart contract language, paired with the Canton privacy-enabled blockchain. These technologies allow GS DAP™ to handle the intricate rights, obligations, and cash flows of assets while maintaining a high level of privacy and security. Essentially, this system automates the entire process while ensuring that data is only shared with the right participants, all while supporting global scalability.
Redefining Speed and Efficiency in Financial Transactions
Mathew McDermott, Goldman Sachs’ Global Head of Digital Assets, emphasized the transformative potential of GS DAP™. “Our goal from the outset has been to help our clients realize the benefits of end-to-end digital lifecycle processing across tokenized assets, digital currencies, and other financial instruments.”
In a real-world demonstration of this, GS DAP™ significantly reduced the typical bond issuance settlement time for the European Investment Bank. What normally would take five days (T+5) was completed in less than 60 seconds (T+0), thanks to cross-chain atomic Delivery versus Payment (DvP) settlement. This not only enhances the speed of transactions but also showcases the enormous potential of blockchain in modern financial markets.
A European Milestone in Digital Finance
In November, the EIB made waves by issuing a 100-million-euro, two-year digital bond on GS DAP™. This was no ordinary bond — it was the first fully digital, blockchain-native bond with same-day settlement. Moreover, it was the first syndicated digital bond issued by a public institution to be listed on the Luxembourg Stock Exchange’s official list. This marks a significant milestone in the digital finance space and hints at a future where traditional financial instruments could be tokenized and traded with unprecedented speed and security.
Blockchain: From Buzzword to Real-World Solution
Blockchain technology is no longer just a buzzword. As Yuval Rooz, Co-Founder and CEO of Digital Asset, explained, “The past few years have been transformational for blockchain ecosystems, with the technology’s ability to solve real problems for financial institutions being validated.”
Goldman Sachs has firmly positioned itself as a pioneer in tokenization. With GS DAP™ now live, the bank is at the forefront of this transformation, showing other financial institutions the path forward. “Goldman Sachs has taken the right approach to tokenization and the underlying blockchain technologies necessary to support this new market,” Rooz added.
About Digital Asset and Goldman Sachs
Digital Asset is a trailblazing software company that’s modernizing legacy financial systems through its Daml smart contract language and Canton blockchain. Their platform powers sophisticated applications that unlock new value networks, allowing industries like finance, insurance, and healthcare to break down silos and build synchronized multi-party systems.
Goldman Sachs, a global leader in investment banking, securities, and financial management since 1869, is no stranger to innovation. Headquartered in New York, the firm continues to push the boundaries of what's possible in finance, with a presence in major financial hubs worldwide.