Goldman Sachs Appoints Crypto Trader Schmidt to Manage Digital Assets

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Goldman Sachs Group Inc. has appointed Justin Schmidt as the head of its digital assets markets to help expose and educate clients to cryptocurrencies.

Schmidt previously worked for quantitative trading firms Seven Eight Capital LLC and WorldQuant LLC before joining the securities division in New York. Schmidt boasts degrees in computer science from the Massachusetts Institute of Technology.

Goldman Sachs has been leading the industry in helping clients explore the crypto markets. It was also the first among Wall Street firms to absolve Bitcoin futures offered by Cboe Global Markets Inc. and CME Group Inc. The company was in talks of starting a trading desk to make markets in digital currencies.

“In response to client interest in various digital products, we are exploring how best to serve them in the space,” Galvin-Cohen said in a statement. “We have not reached a conclusion on the scope of our digital asset offering,” he added.

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