Goldman Sachs is gearing up to launch three tokenization projects by the year’s end, targeting major institutional clients, according to a Wednesday report from Fortune, citing Goldman Sachs’ global head of digital assets Mathew McDermott.

The coming development is part of a broader push into the digital assets sector. McDermott said the bank views tokenization, converting real-world assets into digital tokens, as a key area of opportunity.

The focus will be on creating marketplaces for tokenized assets, enhancing transaction speeds, and diversifying the types of assets available for collateral, McDermott noted. Three tokenization projects are targeted for launch by year-end, including the first in the US.

The bank’s move into tokenization includes efforts in the US fund complex and European debt issuance. These initiatives aim to leverage private blockchains to comply with regulatory standards.

With the upcoming projects, Goldman Sachs also seeks to distinguish its approach from competitors like BlackRock and Franklin Templeton, which target retail customers and focus on public blockchains.