Vanguard Seeks Digital Assets Chief as Tokenization Gains Traction

Vanguard, a leading asset manager, has announced plans to hire a head of digital assets as part of its broader strategy for blockchain-based finance. The role will cover tokenization, stablecoins, custody, settlement, and client-facing products.

The hiring marks a significant shift in Vanguard's tone on crypto products, which the firm had previously taken a cautious line on. In 2024, Chief Executive Salim Ramji stated that Vanguard would not launch crypto ETFs, citing its long-term investing approach.

The job posting highlights the growing importance of tokenization and market infrastructure among large asset managers. Franklin Templeton and Ondo Finance have already launched tokenized ETFs designed for 24/7 trading through crypto wallets outside the US. State Street has also entered the area, launching a stablecoin reserve money market fund and a tokenized liquidity product.