Global investment bank Goldman Sachs has launched a new data service in conjunction with MSCI and Coin Metrics to help investors analyze crypto markets. The new system is “designed to provide a consistent and standardized way to help market participants visualize and analyze the digital asset ecosystem,” Goldman detailed.
Goldman Sachs’ new crypto classification system
Global investment bank Goldman Sachs on Friday announced “the launch of Datonomy, a new classification system for the digital asset market,” in collaboration with global index provider MSCI and crypto data firm Coin Metrics. Advertisement details:
The new digital asset classification framework is designed to provide investors, service providers, developers, and researchers with a way to monitor market trends, analyze portfolio risks and returns, and help create new products.
“Delivered as a new data service, Datonomy categorizes coins and tokens based on usage,” the investment bank explained, adding that the new system is accessible as a direct data subscription feed from Goldman Sachs, MSCI and Coin Metrics.
For example, Datonomy divides digital currencies into value transfer coins and specialty coins. The latter is subdivided into Meme Coins, Privacy Coins and Remittance Coins.
Decentralized finance (defi) and Metaverse are among the digital asset applications listed in Datonomy. Defi applications are divided into Decentralized Exchanges, Derivatives Trading, Decentralized Lending, Stablecoin Issuers, Prediction Markets, Asset Management, Crowdfunding, and Insurance. Metaverse applications are divided into ecosystems of virtual worlds, games and non-fungible (NFT).
Goldman Sachs added:
This new digital asset classification system aims to provide market participants with a consistent view of the market, allowing them to follow trends in different industries, such as smart contract platforms and decentralized finance, filter assets according to a range different filters depending on their purposes. , and understand the aggregate properties of these assets at the portfolio level.
Stéphane Mattatia, Global Head of Derivatives Licensing and Thematic Indices at MSCI, said: “We strongly believe that a consistent and standardized framework for classifying digital assets is essential to support investors’ ability to assess the market.” .
Anne Marie Darling, head of Marquee Client Strategy and Distribution at Goldman Sachs, told CNBC:
The digital asset ecosystem has really grown over the past two years… We are trying to create a framework for the digital asset ecosystem that our clients can understand, as they increasingly 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 executed its first OTC crypto trade in the form of a bitcoin non-deliverable option (NDO) in March this year. In April, the bank offered its first bitcoin-backed loan.
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