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Goldman Sachs Secretly Working on Crypto, Looking for Project Manager

Goldman Sachs is taking a dive into the digital asset business and has posted an opening for an executive level post to manage its new crypto-based projects.

Titled “Digital Asset Project Manager,” the executive position will be responsible to “develop comprehensive road maps distributed ledger technology (DLT) development” and to “collaborate with and direct the firm’s engineers to create DLT-related products and services.”

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The investment bank is also demanding the potential hire to have a deep understanding of “relevant products, technology, and market.”

“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 we’re looking for some of the most talented individuals in the world to help us go further than ever before,” the job post stated.

Bank-backed cryptocurrencies

This came only a month after the chief executive of the Wall Street giant, David Solomon, revealed that the bank is considering to launch its own cryptocurrency, following in the footsteps of JP Morgan Chase. He was also bullish on the future of stablecoins and tokenization.

Elaborating the role of the team, Goldman Sachs noted: “Accelerate is a firmwide initiative to foster innovation and collaboration across divisions, with a focus on the firm’s future growth. The projects we fund will focus on building brand new business ideas for GS, while offering employees the opportunity to work in a fast-paced, entrepreneurial environment.”

Though JP Morgan Chase’s CEO made harsh comments against Bitcoin and other cryptocurrencies for years, his bank became the first Wall Street giant to announce the development of a native cryptocurrency.

However, unlike any other digital coins, JPM Coin will be highly centralized and confined within the bank’s ecosystem. It will only be used by the bank’s corporate customers to streamline transactions.

Last month, Finance Magnates reported that the banking giant is considering to initiate the trial of JPM Coin later this year and is also considering to tokenize bonds.


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