Goldman Sachs Dives Into Crypto, Recruits Project Manager for 'Digital Asset Team'

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Goldman Sachs is planning a deep dive into the world of crypto. But for now, the company is trying to recruit talent without making too much of a splash in the media.

The investment bank is looking for a project manager to head up its new “Digital Asset team,” according to a job advertisement on its website. Says the ad,

“Project managers on the Digital Asset team will play an integral role in helping define both the scope and direction of the business. In short, we’re evolving, and looking for some of the most talented individuals in the world to help us go further than ever before.”

The bank has previously hinted at its move into crypto. Goldman’s chief operating officer David Solomon recently told the French financial news outlet Les Echos that the firm is researching tokenization and looking into the potential of blockchain technology to disrupt traditional financial services.

For the newly announced project manager position, Goldman is looking for someone with a “passion for and understanding of digital assets/blockchain/distributed ledger technology, capital markets, and financial services regulations.”

The PM should expect to work with the firm’s businesses, risk, operations, compliance, legal and finance teams to develop “comprehensive road maps for distributed ledger technology (DLT) development,” according to the ad.

Now that both Facebook and JPMorgan Chase have announced their respective digital assets, Libra and JPM Coin, legacy players and corporate giants are opening up about their exploration and research into creating their own digital assets. Crypto enthusiasts, however, have been quick to point out that neither Libra nor JPM Coin is a truly decentralized cryptocurrency like Bitcoin, which is free of corporate control.

Instead, the blockchain space is creating a new class of corporate crypto hybrids. Both Libra and JPM Coin are specifically designed for permissioned blockchains that benefit authorized users and clients of each platform only, rather than the public at large.