JPMorgan, a major banking institution aiming to enhance its presence in the crypto market, is actively seeking specialist personnel.
These individuals will work in the payments unit, focusing on acquiring customers in the realms of Web3, the Metaverse, and cryptocurrency.
JPMorgan Seeks Specialized Personnel to Bring Banking Products to Metaverse and Cryptocurrency Companies
JPMorgan, which also provides banking services to the cryptocurrency exchange Coinbase, has expressed its intent to expand its commercial activities in the sectors of Bitcoin, Web3, cryptocurrency, and the Metaverse. This intention was evident in a LinkedIn job posting for a Business Development Manager.
The new hire will be part of the bank’s Technology, Media, and Communications services team based on the US West Coast. JPMorgan began its foray into the crypto market by accepting Coinbase and Gemini as its first crypto market clients in 2020. In February 2022, the bank also opened a branch in the DCG-backed Metaverse platform, Decentraland.
Per the job description, the new recruit’s responsibilities will include acquiring new institutional clients for various payment products, encompassing FX trading, financial and treasury services.
Similarly, Citigroup, another Wall Street banking leader, is also pivoting towards crypto services by seeking to hire a Crypto Risk Management Manager.
In August, Morgan Stanley Asset Management was in search of a Product Development Manager for its investment products development team.
However, as Bitwise CEO Hunter Horsley has pointed out, such job postings don’t necessarily imply that banks are diving headfirst into new opportunities in the crypto space without careful consideration.
Horsley mentioned that hiring a mid-level individual for such roles does not guarantee that a new product will be immediately launched in the market.
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