In a bid to help its clients gain greater exposure to cryptocurrencies, Goldman Sachs hired Justin Schmidt as head of digital asset markets, according to a report by financial industry newsletter Tearsheet.
The 38-year old former trader joins the bank’s securities division in New York as a vice president, a Goldman spokesperson told Bloomberg.
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“In response to client interest in various digital products, we are exploring how best to serve them in the space,” bank 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,” she said.
Schmidt commenced his job on April 16 and previously worked at trading firms Seven Eight Capital LLC and WorldQuant LLC. He is a graduate of the Massachusetts Institute of Technology where he earned a computer science degrees, according to his LinkedIn profile.
Goldman Sachs, became one of the small number of large financial powerhouses who began to clear CME and Cboe bitcoin futures for its clients when these derivative products were put forward in December.