Representatives of the national postal service of South Korea (KP) communicate with the heads of the investment bank Goldman Sachs to master the skills of working with cryptocurrencies, Bloomberg reports.
The first meeting of the postal service representatives, that are managing an investment fund of $112 billion, with their new mentors has already taken place in New York. The incoming chief executive, David Solomon was representing the Goldman Sachs.
In an interview with Bloomberg, Korea Post President Kang Seong-ju has confirmed that his colleagues would also travel to Hong Kong to meet with the members of the Goldman’s task force on cryptocurrency issues, that the banking giant created just this year.
Kang Seong-ju asked Goldman employees to share their skills and knowledge from the field of cryptocurrency.
“Since cryptocurrencies are considered to have potential, and are something many people are watching, we’ll need to learn the strengths and weaknesses,” he said.
Unlike its mentor, KP has no plans for any kind of crypto investment. Nevertheless, Kang emphasizes that digital currencies are a phenomenon that is more likely to be studied and accepted than to close the eyes on it.
“We should accumulate know-how,” he said.
WHY IS IT IMPORTANT?
- Learning about crypto is part of Korea Post’s broader effort to keep up to speed on the changing investment environment.
- The irony is that on the same day the news came that Goldman Sachs postponed their plans for cryptocurrency sales. This caused a surge in volatility in the cryptocurrency markets: bitcoin has lost $500 in minutes.