Another Wall Street executive is defecting to the crypto industry. Mustafa Al Niama, the former head of the Americas digital assets desk for the investment bank Goldman Sachs, is joining the blockchain developer Mysten Labs as head of capital markets, he told Fortune. He’ll help lead the crypto company’s outreach to large financial institutions, he said.
“The objective is to expand that sphere materially more than what we have today,” Al Niama added.
Mysten Labs is the main developer behind the Sui blockchain, which uses some of the tech that engineers at Meta had once developed for the social media giant’s crypto moonshot.
“Hiring Mustafa as head of capital markets is the next step towards helping the ecosystem bring Sui’s mainstream public blockchain to institutional finance,” Ryan Servatius, global head of partnerships at Mysten Labs, said in a statement to Fortune.
