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JPMorgan seems to be ready to fully embrace cryptocurrencies
The rumors about major banks becoming interested in cryptocurrencies appear to become more than just rumors,
Jay Crypto
Blogger
Last updated Feb 22, 2023 at 04:17 PM
Posted Jun 4, 2021 at 04:43 PM
The rumors about major banks becoming interested in cryptocurrencies appear to become more than just rumors, after observing some job listings from JPMorgan Chase & Co.
Specifically, they are looking for a few crypto-savvy employees to fill in regulatory affairs and payments positions, for something else than the bank’s Onyx blockchain project, focused on wholesale banking.
Could this be considered as ‘huge news’?
JPMorgan is looking forward to filling in the six available positions ever since April could hint that the financial giant wants to expand on multiple fronts. And, of course, it could mean that after a few years of hearing CEO Jamie Dimon generally disagreeing with Bitcoin, the bank is finally laying a broader foundation for cryptocurrencies.
However, for the moment, the bank declined to comment on this topic. It is, however, rumored that this could be an attempt to dive more into consumer payments using cryptocurrencies. As a side note, Merchant Services, JP Morgan’s payment processing operation, is also putting together a “New Payment Methods” team that will explore more the crypto space and is believe that the new employees will join it.
Not the first attempt to ride the crypto train
It’s been a few years since JPMorgan wants to enter the cryptocurrency space, by pursuing different ventures in blockchain technology. For the moment, its team of developers is exploring both cross-border payments and tokenized asset collateralization, through their very own token, JPMCoin. On the other hand, we all know that once they were one of the most vocal financial institutions when it came to the ‘fight’ against Bitcoin and other cryptocurrencies.
Finally, as for the positions they are trying to fill, a source familiar with the matter claims that one of the roles specified in the job listings, “Senior Digital Assets Platform Engineering Lead” is not related to a specific project, but meant to “strengthen our overall engineering development team.”