Blockchain, a cryptocurrency wallet service, has hired former Goldman Sachs executive – Breanne Madigan to help boost its presence with institutional clients. Ms. Madigan will take up the role as head of institutional sales and strategy, she most recently served as head of institutional wealth services at Goldman Sachs, a division whose total assets under management reached a record $1.49 trillion in 2017, according to information provided by Blockchain.
Madigan had been at Goldman since 2003 in roles including chief operating officer for the G10 global foreign exchange business. The hiring of Madigan signals Blockchain’s intent to go after institutional clients, a market that is seen as potentially lucrative. So far, institutional investors have not jumped into cryptocurrency investing as many had anticipated following the launch of futures contracts last year. Blockchain sees an opportunity in trying to attract institutions into the market through hiring Madigan.
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
Analysts have said that 2018 could be the year that institutions begin to get involved in the space. Blockchain has 24 million wallets opened on its platform. The company recently launched a service in the U.S. to buy and sell digital currencies, pitting it against the likes of Coinbase.