According to a new job posting, the American banking giant Goldman Sachs revealed that it is looking for a new vice president to head its digitals assets unit. The new VP will also play a key role in its blockchain initiatives. The job posting from the baking giant comes just weeks after it appointed a new head of Digital Assets team and expressed interest in launching a stablecoin.
The new VP will help define and execute blockchain efforts firmwide.
The new Goldman Sachs VP for digital assets unit, to be based in London, will play a key part in defining and executing “distributed ledger technology (DLT) and blockchain efforts firmwide, including any potential initiatives in the cryptocurrency space.” According to the job posting, the New York-based investment bank will also charge the VP with identifying opportunities where blockchain and digital assets can add value.
The appointed VP will work alongside Matthew McDermott, the bank’s global head of digital assets. McDermott took office early this month as the bank looks to delve into the digital assets space, a complete turnaround from its earlier stance against the industry.
Goldman Sachs might be looking to launch its own stablecoin.
In an earlier report, the American banking giant Goldman Sachs, downplayed digital currencies, claiming, “Cryptocurrencies, including Bitcoin, are not an asset class.” Digital currencies facilitate crime, are too volatile, and the trading platforms are too prone to hacks, the bank claimed. For these reasons, it was discouraging its clients from investing in Bitcoin.
However, just a few months later, the American bank appointed McDermott, with big plans as the head of the digitals assets division. In an interview with CNBC, McDermott revealed that the bank is looking at launching its own stablecoin, following in the footsteps of JPMorgan Chase. The two banks could even be collaborating on a project in the near future, he hinted.