Breanne Madigan, a former Goldman Sachs VP has been hired by Crypto wallet Blockchain to head its institutional sales and strategy division. Madison’s entry into the firm is a sure fire indicator of Blockchain’s intent to go after institutional clients and expand their operations.
Blockchain.com is a provider of online crypto currency wallets wherein clients can buy, sell or hold digital assets. While Block chain boasts of having 24 million active wallets it has not discussed its work with institutional clients in the past. This new development in the company’s organisational structure speaks for itself in terms of its interest to attract more institutional customers.
Crypto currency is a market that is considered to be potentially lucrative with the capacity to build a radically better global financial system. However, due to the high volatility of its prices, a large number of traditional clients still remain skeptical about investing in the crypto currency market. It looks like Blockchain is out to change this perception – starting with hiring a former executive from a company which makes 40% of its revenue from institutional client services.
Madigan joined Goldman Sachs right after college and has since spent 13 years moving up the ladder within the firm, from an associate in money markets to the chief operating officer of global foreign exchange. Having always been a part of a legacy business, this new role means that Madison gets to use her extensive experience to scale up the business at Blockchain and lead them in growing their institutional client base. Starting next week, her role at Blockchain will be to convince the largest investors in the world that blockchain is the future of financial services. Her strong belief that block chains will completely re-engineer the way we operate in the future is what led her to be a part of Block Chain.