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Goldman Sachs Hires First Cryptocurrency Trader in Its Markets Unit

Goldman Sachs has made its first lease in its unit for making cryptocurrency markets. This indicates the need to help customers invest in digital currencies.

The Wall Street Bank hired Justin Schmidt, a former trader, as vice president and head of digital asset markets in Goldman's security department, according to a Tearsheet report.

Since December, reports have shown that Goldman Sachs plans to set up a trading bank dealing with cryptokurwes. It was reported at that time that the bank was aiming to set up its platform by the summer of 2018.

Now it seems that the bank makes progress to get its team together that will help customers with investments in digital currencies. A statement said Tiffany Galvin, a spokesman, said:

In response to customers' interest in various digital products, we investigate how to best serve them to serve the space. At this stage, we did not reach a conclusion about the size of our digital asset offer.

Yet, this is a significant move from Goldman Sachs. Back in October, Lloyd Blankfein, CEO of Goldman Sachs, took Twitter to say that the bank still thinks about bitcoin. No conclusion – not endorsed / rejected. Know that people were skeptical when paper money transferred gold. & # 39;

Considered as a major financial institution that is often one step ahead of its peers, the bank in December became one of the few to start CBO and CME bitcoin futures for customers when the derivative products were launched. Through an intermediary, Goldman Sachs, customers can access bit coin on exchanges by placing an order through the bank, which is a member of the exchange.

In an attempt to maintain his position, his first rent within his cryptocurrency unit illustrates his keenness to look at the variety of options & # 39; This has helped some customers. Matt Levine, a Bloomberg view column, said:

The work of a bank's commercial banks is to help their customers find the financial goods they want traded, traded. If customers want customers from banks want to trade something, that thing becomes a financial thing, and so the authorities helped them better trade it.

Before joining Goldman Sachs, Schmidt was a senior vice president at the quantitative trading company Seven Eight Capital, and a property broker at the property , among other roles.

 Picture of Shutterstock. 

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Goldman Sachs Hires First Cryptocurrency Trader in Its Markets Unit


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