The current president of Goldman Sachs, David M. Solomon, will be promoted to CEO of the company by the end of this year. As a follower of the cryptocurrency, will David M. Solomon take this opportunity to realize the magnificent turn of the “coin Circle leader”?

Goldman Sachs is looking for new breakthroughs

David M. Solomon has started to form his own management team in preparation for replacing Lloyd C. Blankfein, who has long served as CEO. The appointment of David M. Solomon may mean new opportunities for development because both David M. Solomon and Goldman Sachs have expressed interest in further developing cryptocurrency related products.

Lloyd C. Blankfein has successfully led Goldman Sachs through the turbulent period of the 2007 US real estate market. Since then, the US government’s development of the business model of the Goldman Sachs has been under the strict control of federal regulations in order to curb Wall Street’s risk-taking behavior. Over time, new opportunities for development brought about by business transformation are imminent.

Is cryptocurrency a new opportunity for development?

Earlier this year, Goldman Sachs’ first cryptocurrency talent recruitment plan and new dynamics such as hiring a former cryptocurrency trader Justin Schmidt as vice president of Goldman Sachs and head of digital asset markets showed that the investment bank is assisting customers with a very serious and responsible attitude. The cryptocurrency is an emerging asset class.

In addition, since December last year, it has been reported that Goldman Sachs is developing a cryptocurrency trading platform that is planned to be launched this summer.

Also in December of last year, the bank became one of the first institutions to provide customers with the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) Bitcoin futures.

As one of the early traders of Bitcoin futures, Goldman Sachs is forming a cryptocurrency team, but the company’s official report did not disclose more information. In a statement, Goldman spokesperson Tiffany Galvin described the current situation as follows:

“In response to client interest in various digital products, we are exploring how best to serve them in the space. At this point, we have not reached a conclusion on the scope of our digital asset offering.”

Marko Vidrih

@cryptomarks

image via financialtribune.com