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Goldman Sachs is bringing real estate investing onto the blockchain. The bank announced a partnership with Apex Group and Archax to launch a tokenized real estate fund, with shares issued natively on Goldman’s proprietary GS DAP distributed ledger technology.
How the partnership breaks down
Goldman Sachs contributes its GS DAP platform, the distributed ledger it has been quietly building out over the past few years. The technology handles the on-chain issuance of fund shares, essentially creating digital securities that live on a blockchain rather than in a traditional registry.
LRC Group, which manages approximately €3.6 billion ($4.2 billion) in assets, takes the investment management seat.
Apex Group steps in as the Alternative Investment Fund Manager, handling administration, depositary, and banking services. Apex services over $3.5 trillion in assets globally.
Archax rounds out the lineup as the custodian for the digital securities and the initial distribution partner. The fund is wrapped inside a Luxembourg fund structure.
Goldman’s growing digital asset footprint
In 2025, Goldman partnered with BNY Mellon on tokenized money market funds using the same GS DAP platform. The bank has also signaled plans to launch multiple tokenized funds targeting both US and European markets.
Mathew McDermott, Goldman Sachs’ Global Head of Digital Assets, highlighted the precision and future transferability benefits of the blockchain-native fund structure.
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English (US) · 