Goldman Sachs opened the position of head of digital assets markets

Goldman Sachs opened the position of head of digital assets markets

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Four months after the news appeared on the network about the possible launch of a division for the trading of cryptocurrencies based on Goldman Sachs, the investment bank took the first official step in this direction, hiring for the role of head of digital assets markets Justin Schmidt, which will help to assess the interest of customers to trade bitcoin and other cryptocurrencies, and also to orient them when working with a new class of assets.

38-year-old Schmidt joined the securities trading department in New York as vice president, said spokesman Tiffany Galvin-Cohen. Previously, he worked for trading companies Seven Eight Capital LLC and WorldQuant LLC.

“In response to our customers’ interest in various digital products, we are exploring how best to service them in this space,” said Galvin-Cohen. “To date, we have not decided on the volume of supply of digital assets.”

As Tearsheet notes, the recent events should be interpreted as an investment by Goldman, a bank that is known for its progressiveness, money and resources in an employee, which will help interested customers understand the “wide range” of cryptocurrency products.

At the same time, Business Insider writes that Schmidt “will not trade anything, including cryptocurrencies.”

It is noteworthy that, despite the absence of the corresponding unit, Goldman is indirectly involved in the trade in cryptocurrencies through its stake in the Circle start-up company, which recently acquired the Poloniex exchange and serves over-the-counter sales of digital assets.

It can be assumed that in the near future, the number of banks that can provide their customers with the ability to trade cryptocurrencies will grow significantly, without the need to sell contracts. At least until regulators will not make  the greater clarity.

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