The battle for traditional institutional encryption: Goldman Sachs set up a digital asset team to target Morgan

The battle for traditional institutional encryption: Goldman Sachs set up a digital asset team

According to the recruitment requirements of the Digital Asset Project Manager in the document, Goldman Sachs' new cryptographic business will be separated from its cryptocurrency derivatives trading business and will focus on exploring new digital asset opportunities for banks.

“The project manager of the Digital Assets team will play an integral role in helping to determine the scope and direction of the business. In short, we are constantly evolving to find some of the most talented people in the world to help us, let us compare Going any further."

Although the details of job advertisements are rare, industry insiders say Goldman Sachs may look at products like JPMCoin. JPMCoin is a digital asset of Goldman Sachs rival JPMorgan Chase to simplify international transactions with its wholesale customers.

In an interview with French news media Les Echos, Goldman Sachs chief executive David Solomon hinted that the company will delve into digital assets. According to CoinDesk, Solomon said that Goldman Sachs has been studying the stability of currency and assets.

Specifically, the role of the project manager will help to develop a roadmap for the project, working with business units that guide risk, compliance, and finance.

According to the memorandum, as for the new business team, it will work with the accelerator team at Goldman Sachs. New employees need to report to Justin Schmidt, who is in charge of the bank's digital assets department.

Goldman's ambitions in emerging markets for digital assets can be traced back to rumors during the bitcoin boom in late 2017, when there were signs that Goldman Sachs was preparing to launch a Bitcoin-related transaction. But the rumors eventually turned into reality in a disappointing way. A Goldman Sachs spokesman said that the company is currently trading bitcoin-related non-deliverable forwards, but the volume is relatively small. (Babbit)