Effort to attract institutional clients: top Goldman Sachs exec joins Blockchain

Former Goldman Sachs executive Breanne Madigan has joined Blockchain, a cryptocurrency wallet provider. Madigan will work on bringing more institutional clients to Blockchain, CNBC reported today.


Madigan has big experience in heading a division for institutional wealth at GS, which had a total of $1.49 trillion of assets under its management in 2017. She will have a similar role at Blockchain and will a head of institutional sales and strategy.

Institutional clients are yet to jump on cryptocurrencies as many have expected when crypto futures were launched back in 2017. This hiring goes to show what are the goals of Blockchain and similar companies: bringing more institutional investors into crypto space.

Cryptocurrencies are still seen as very volatile and risky asset class due to high price swings. However, many crypto analysts see this year as the turning point as a lot of funds and endowments are on the brink of joining the space.

“I do think it’s inevitable from a few angles,”

Paul told CNBC in a recent interview.

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“Even if they never believe in it as an asset class, they’re smart enough to recognize the alpha opportunity.”

Blockchain has put out a statement welcoming Madigan to their company:

“Breanne has a proven track record of adding value to her teams and her clients, and as Blockchain continues to grow its institutional presence, I can think of no one better to help scale our business,”

Peter Smith, CEO of Blockchain, said in a statement Tuesday.

Blockchain has 24 million wallets created on its platform. The company also recently launched a service in the U.S. to buy and sell digital currencies.

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