JP Morgan plans to test potential applications for Cryptocurrencies and Web3 Payments

• Blockchain Council
• October 18, 2022

In order to grow its technology team, JP Morgan, a leader in banking and finance worldwide, has hired a Vice President for Payments Business Development. According to JP Morgan’s most recent job advertising on LinkedIn, the business is interested in taking advantage of the payment potential presented by cryptocurrencies, Web3, and the Metaverse. To drive the business with their technical expertise in blockchain, the bank is looking to appoint a “curious and dynamic” executive.

The bank is looking for methods to enter the market since the bitcoin business is through a “sea of technological upheaval,” according to the job description. Overseeing the team and securing payment prospects in cryptocurrencies, Web3, and Metaverse are the vice president’s main responsibilities.

The hire suggests that, in order to get an advantage over other major banking organizations, JP Morgan is seriously considering joining the bitcoin market first.

The JD recommends that companies identify and seize new payment opportunities in the Web 3, cryptocurrency, fintech, and metaverse business sub-verticals. Additionally, the newly hired person will be in charge of keeping track of, analyzing, and grasping the objectives of the client’s operational frameworks for bitcoin payments.

The hiring follows high-level JP Morgan executives who recently departed their positions to work for cryptocurrency businesses. The leading bank has lost key people to bitcoin payment businesses over the previous two years.

In just the third quarter of 2022, three senior executives resigned from their roles to work for bitcoin startups. Among the executives are former managing director Eric Wragge, head of ideation Puja Samuel, and head of asset management sales Samir Shah.

The bank is currently working to remain ahead of the financial change that is gradually but slowly altering the nature of the global economy. If they embrace the crypto and Web3 payment prospects, they will be able to keep top staff who switches to crypto enterprises in quest of attractive opportunities.

If you want to keep up with the trends of blockchain industry, join our communities on Discord, Reddit and Telegram.