The appointment means the newest face of blockchain and cryptocurrency on Wall Street isn't a starry-eyed bitcoin evangelist, but a 46-year-old veteran of old-school financing markets.
The bank made Mathew McDermott, a managing director who ran the investment bank’s internal funding operations, its new global head of digital assets last month, CNBC has learned exclusively.
At Goldman, McDermott is expanding his team, doubling its headcount with hires in Asia and Europe. He has also lured talent from a key competitor: JPMorgan Chase’s head of digital assets strategy Oli Harris has joined the bank, according to people with knowledge of the move. Harris was involved in the JPM Coin.
The appointment means the newest face of blockchain and cryptocurrency on Wall Street isn't a starry-eyed bitcoin evangelist or ostentatious start-up founder, but a 46-year-old veteran of old-school financing markets. McDermott replaces, an M.I.T.-educated former crypto trader and quant who ran Goldman's digital assets team since 2018.
"In the next five to 10 years, you could see a financial system where all assets and liabilities are native to a blockchain, with all transactions natively happening on chain," McDermott said in an interview. "So what you're doing today in the physical world, you just do digitally, creating huge efficiencies. And that can be debt issuances, securitization, loan origination; essentially you'll have a digital financial markets ecosystem, the options are pretty vast.
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