Investment bank Goldman Sachs has hinted at its plans to add new staff to its digital assets team.
The team's global head, Mathew McDermott, said the bank is still quite supportive of exploring blockchain applications, and his team plans to hire additional employees in 2023.
- Goldman Sachs' digital assets team currently has around 70 staff, though it started only with four people.
- The company's private blockchain and tokenization platform, GS DAP, was recently used by Hong Kong to sell $102M worth of digital green bonds, reducing the settlement time after the trade from five to one day.
- McDermott said he expects GS DAP to be used for other assets, including alternatives, private equity, derivatives, and fund units.
- The digital assets division's lead also claimed that investors could see more data, transparency, and accurate asset pricing through their blockchain platform.
- Last month, Goldman Sachs laid off roughly 3,200 employees, marking one of its biggest job reductions ever.
- Over the last months, many crypto-related firms had to announce mass layoffs due to the crypto winter that heightened last year, mainly with the impact of Terra's collapse and popular crypto exchange FTX's bankruptcy.
