Popular Crypto Wallet, Blockchain.com has hired ex Goldman Sachs executive Breanne Madigan as the head of institutional sales and strategy in a bid to boost its presence with institutional clients, according to a new report published by CNBC.
According to Peter Smith, the CEO of Blockchain.com in a statement released to the press, “Breanne has a proven track record of adding value to her teams.” He continued “as Blockchain continues to grow, I can think of no one better to help scale our business.”.
Madigan, who until recently was the head of institutional wealth services at Goldman Sachs, a division whose total assets rose under her management to a record $1.4 trillion in 2017.
Madigan leaves a 13-year career with the investment giant Goldman Sachs for a cryptocurrency startup. During her time at Goldman, she worked in different roles including chief operating officer for the famed G10 foreign exchange business.
Hiring Breane Madigan shows Blockchain’s intent to boost the presence of institutional clients in the market. So far, institutional clients have not taken the leap that many people predicted after the launch of the futures last year.
For a lot of institutional investors, cryptocurrencies remain a volatile asset given the massive fluctuations the prices have recorded over the years. Bitcoin, for example, has seen a fall from grace to grass, as it hit an all-time of $19,000 in December before taking a hit, weeks after, which now sees it hover around $8,000.
Blockchain.com has 24 million wallets opened on its platform, and it recently launched a service for customers in the U.S to buy and sell digital currencies in a bid to compete with the likes of Coinbase.