Goldman Sachs to Normalize Crypto Data for Institutional Investors

Wall Street giant Goldman Sachs will soon provide institutional clients with an online resource that explains and categorizes cryptocurrencies.

Called Datonomy, the service will help institutional investors who may be foreign to the space understand the hundreds of coins and tokens that now make up a $1.05 trillion industry.

Datonomy is a joint project with global index provider MSCI and crypto data firm Coin Metrics, according to a statement on Thursday.

“The digital asset ecosystem is changing rapidly, alongside investor demand for tools and solutions to navigate this new asset class,” Stephane Mattatia, head of thematic indices at MSCI, said in the statement.

Anne Marie Darling, head of strategy and client distribution for Marquee at Goldman Sachs, added that “the collaboration brings together MSCI’s expertise in critical decision support tools and services, the intelligence of Coin Goldman Sachs digital asset metrics and innovative platforms combined with over 150 years of experience in financial markets to help solve this problem for clients.

Coins and tokens will be priced in a “consistent and standardized manner to help market participants visualize and analyze the digital asset ecosystem,” today’s statement added.

The database will also help give market participants an idea of ​​what is happening in different crypto spaces, such as decentralized finance (DeFi) and smart contract platforms.

Goldman Sachs has moved more aggressively into crypto this year. It was the first big bank to complete an over-the-counter (OTC) cryptocurrency transaction when purchasing a non-deliverable (NDO) Bitcoin OTC option from Galaxy Digital.

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