The candidate’s main responsibility will be to learn about the Web3, Crypto, Fintech, and Metaverse payment demands of their customers. JPMorgan’s payments team will require their assistance in assessing the competitive landscape and developing a strategy to succeed in that environment.
By tokenizing conventional financial items for use as collateral in DeFi pools, the Wall Street bank hopes to establish itself as a key participant in the emerging sector.
Due to the tokenization process, DeFi’s pools must follow strong Know-Your-Customer regulations.
The bank was the first to use a blockchain collateral settlement system in May of this year when it acquired tokenized money market fund shares from asset management BlackRock Inc. on a private blockchain, the Onyx Digital Assets platform. JPM Coin, the bank’s in-house digital currency, is used to settle the collateral.
LinkedIn reports that 46 people have applied for the new crypto post at JPMorgan, and the vast majority of them have at least a BA. Candidates need to have a strong interest in crypto and a willingness to upskill in the subject, in addition to having five years of experience or more in the financial services industry.
No special crypto certification is required since crypto and Web3 are still relatively new specializations in the bank’s 200-plus-year history. Professional expertise in the semiconductor, financial technology, or software as a service sector is a plus.
The bank is taking many approaches to Web 3, each one designed to integrate the platform’s basic banking concepts and offerings. It aspires to modernize conventional banking services by using blockchain technology’s speed and efficiency.
Also Read: The Dubai Regulatory Authority VARA Has Approved Blockchain.Com
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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