As the meteoric rise of bitcoin and other cryptocurrencies continues at pace, investment banks are now getting in on the action. For Goldman Sachs, it is a return to a project that had been all but abandoned in the last two years.

The Wall Street lender is relaunching its cryptocurrency trading desk this month, overseen by its global markets division and the digital assets team. Mathew McDermott, the bank’s global head of digital assets based in London, stands at the helm.