Goldman Sachs appoints new digital asset director, exploring the commercial feasibility of creating digital currency

According to CNBC, Goldman Sachs appointed Mathew McDermott, the managing director of internal financing, as the global head of digital assets last month. McDermott said, “Goldman Sachs is exploring the commercial feasibility of creating its own digital currency, but it is still in the early stages.” McDermott’s vision is that in the future all financial assets in the world will be stored on electronic ledgers, and now bankers and lawyers are needed to team up Activities undertaken, such as initial public offerings (IPOs) and debt issuances, can be automated to a large extent. Currently, McDermott is expanding its team and is preparing to double the number of employees in Asia and Europe. According to people familiar with the matter, Oli Harris, the head of JP Morgan’s digital asset strategy and who has participated in the JPM Coin project, has joined the McDermott team.