JPMorgan Is Hiring People For Metaverse, Crypto Jobs: Details
- JPMorgan Chase is planning to hire a west coast business development specialist with the goal of pushing institutional payments products onto clients tied to Web3, crypto, and the metaverse industries.
- The payments business development manager will be responsible for expanding the bank’s business in merchant banking and treasury services “in the Web3, Crypto, Fintech, & Metaverse industry sub vertical.”
JPMorgan Chase & Co., an American multinational investment bank and financial services company, has confirmed a new job opening, as the company is planning to hire a west coast business development specialist with the goal of pushing institutional payments products onto the clients tied to Web3, crypto, and the metaverse industries.
“There is no industry playbook for these segments,” the investment bank noted while confirming the job requiring a person who will help the Wall Street megagiant in expanding its roots to the crypto industry while tapping on metaverse, web3, and digital assets clients.
Interestingly, JPMorgan is no stranger to handling clients dealing with digtal assets, Web3, or the metaverse as it also provided banking services for crypto exchange Coinbase, which recently announced that it is funding a lawsuit by six people challenging the United States Treasury Department’s move to sanction Tornado Cash smart contracts.
As per a job advert on LinkedIn from JPMorgan Chase, the payments business development manager will be responsible for developing, growing, and expanding the investment bank’s business in merchant banking and treasury services “in the Web3, Crypto, Fintech, & Metaverse industry sub vertical.” Meanwhile, the location for the job has been confirmed as the bank’s technology, media, and telecom payments department on the West Coast.
In 2020, it was confirmed that JPMorgan had accept crypto exchanges Coinbase and Gemini as its first two major clients and since then, the firm has never looked back on cryptocurrencies or the Web3 and metaverse industry. In February 2022, the investment bank also confirmed its first metaverse venture while setting up a shop in the virtual world.
The company created a new lounge in Decentraland, called the Onyx Lounge, one of the most popular metaverse protocols in the blockchain industry. In the lounger, the customers and users were given the ability to build virtual spaces and roam around freely.
As per the job description, the goal of the new hire will be to ramp up the clients for belonging to the corporate world for numerous services including payment products related to transactional FX, liquidity and treasury services, and escrow.
“There is no industry playbook for these segments. This individual must be comfortable paving a path, creating frameworks, and working with extremely fast moving companies amongst ambiguity,” the bank said. “These segments require increased technical knowledge around software that do not fit into the traditional training of front-office financial professionals.”
Interestingly, JPMorgan is not the only bank to enter the crypto, Web3 and metaverse industry as recently, the largest bank in Singapore, DBS, embarked upon a journey in the metaverse in a partnership with The Sandbox metaverse. The bank announced the creation of DBS BetterWorld, “a better, more sustainable world, and inviting others to come alongside.”
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
