Vanguard Seeks Digital Assets Chief Amid Shift to Tokenization

Vanguard is expanding its presence in digital assets by hiring a head of digital assets. This move marks a shift in tone for the asset manager, which has historically taken a cautious approach to cryptocurrencies and blockchain technology.

The new role will cover tokenization, stablecoins, custody, settlement, blockchain infrastructure, and client-facing products. The executive will be responsible for developing Vanguard's strategy for digital assets, as well as evaluating and building partnerships with market participants.

The job posting highlights the importance of knowledge in regulated financial environments, stablecoins, wallets, custody models, and blockchain-based settlement. This focus on tokenization and market infrastructure is a broader shift among large asset managers, with companies like Franklin Templeton and State Street already launching tokenized ETFs and stablecoin reserve money market funds.

Vanguard's hiring comes as the tokenized real-world asset market continues to grow, with data from RWA.xyz showing $30.87 billion in distributed asset value and $14.86 billion in tokenized U.S. Treasuries.