Goldman Sachs Introduces Its Own Cryptocurrency SETLcoin and Files Patent for Securities Settlement

Goldman Sachs has filed a patent application with the US Patent & Trademark Office called Cryptographic Currency For Securities Settlement for a cryptocurrency called SETLcoin. Paul Walker and Phil J. Venables are listed as the inventors.

Cryptocurrency SETLcoin by Goldman Sachs will allow P2P transfers with cryptographic tokens representing securities with instant settlement.

As described in the application, the technology provides a virtual multi-asset wallet as a traditional securities and cash account for an individual, investor and/or trader. The wallet has technology to generate, manipulate, and store the SETLcoins for exchanging assets via a peer-to-peer network. The technology facilitates transactions between virtual wallets and non-virtual wallets. Traders will no longer need to visit an exchange to trad ...

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