Goldman Sachs Hires Digital Assets Head, May Be Prelude To Crypto Trading

Goldman Sachs has hired its the first head of digital asset markets, naming former trader Justin Schmidt to the new role, which will be part of Goldman’s securities division.

The move is seen as the first step toward Goldman Sachs’s long-rumored foray into cryptocurrencies trading and management.

“In response to client interest in various digital products, we are exploring how best to serve them in the space,” Goldman Sachs spokeswoman Tiffany Galvin-Cohen said in a statement.”At this point, we have not reached a conclusion on the scope of our digital asset offering.”

Goldman is already clearing CME and Cboe bitcoin futures for clients, and has been doing so since the derivatives products launched in December.

Schmidt began his role April 16. He was previously SVP at quantitative trading firm Seven Eight Capital,

Source: Read Full Article