JP Morgan is increasingly studying and mastering the world of Web3 and Metaverse. This follows its mass investments in traditional cryptos.
JP Morgan’s affair with Bitcoin is a long affair consisting of investments, announcements, attempts to influence the market (of course) and, of course, operations. We are talking about the presence of the largest bank in the world in the crypto sector. It goes without saying that there is a natural interest in the first cryptocurrency by capitalization and in the industry as a whole.
And it is quite natural that an institution with such power should be at the forefront of offering its customers products and services that use cryptocurrencies and scenarios based on them. However, DeFi is a world that is developing at the speed of light, and in order to keep up with it, it is necessary to attract professionals who best demonstrate that they know how to stay up to date.
JP Morgan is showing increasing interest in the industry
J.P. Morgan Payments addresses candidates: The bank is looking for a vice president of payments business development who will work in a vertical subsector dedicated to Web3, Crypto, Fintech and Metaverse, according to an announcement on LinkedIn.
The required figure is designed to act as a bridge between the client and the relevant business units, and she will have to develop special strategies for all those forms of business that develop on the chain or are related to blockchain and derivative products/services.
Has the traditional bank decided to reborn?
In fact, the announcement is much longer and more detailed, but here we are interested in the essence of the issue: the bank continues to firmly believe in the sector, firmly, as recent history shows.
And the recent story proves that JP Morgan was the first bank to own space in Decentraland when its LANDs were virgin or almost virgin territory. This was a step that ranks the institution among the pioneers of the metaverse, those who explored the potential of the emerging technology before everyone else, including competitors.
The reaction of others was not long in coming: to name just a few well-known colleagues, we recall Sygnum on Decentraland with CryptoPunk at the front desk, and Sumitomo Mitsui Banking Corporation, which will use the metaverse to provide consultations and operations. Among the many examples that confirm the foresight of JP Morgan, which, being a beginner, goes on exploration in order to gain a competitive advantage over competitors and explore all business development options offered by the sector.
A sector that finds its main asset in Bitcoin, to which the world’s leading credit institution has repeatedly shown interest. When the “bear” was at large, cryptocurrencies were even called better than the real estate sector, which saw a bottom in the spring.
JP Morgan reaffirmed its positions, also guided by obvious direct interests. And since the crypto winter froze the markets in the middle of summer, the bank draws public attention to the crypto sector, calling it unhealthy, but with exceptions, meaning, in all likelihood, the Bitcoin -Ethereum pair, that is, the first projects by capitalization.