JP Morgan, a multinational investment bank, is on a recruiting spree for its blockchain division, Onyx. The bank is seeking for people to fill jobs in marketing, audit, engineering, among other areas.
The new job listings are looking for blockchain expertise in a variety of JPMorgan offices across the world, including the United States, Singapore, India, Hong Kong, the United Kingdom, and others. Over the last seven days, the company has advertised more than 30 such positions in the United States alone.
Several applications are aimed especially at talent for JPMorgan’s digital currency-focused Onyx business as well as Liink, the company’s own blockchain-based interbank data network. Onyx, which debuted in October, is centered on JPMorgan Chase’s in-house stablecoin, JPM Coin.
JPM Coin is a permissioned, shared ledger system that works as a payment rail and security account ledger, allowing participating J.P. Morgan clients to transfer US Dollars held on deposit with J.P. Morgan. JPM Coin aids real-time value transfer, serving to solve the general difficulties of conventional cross-border payments.
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The financial firm has spent millions of dollars attempting to find applications for the technology in the hopes of lowering costs and simplifying more complicated IT procedures such as securities settlement or international payments.
The new job listings came just after JPMorgan analysts predicted that Ethereum’s upcoming transition from proof-of-work to proof-of-stake will increase worldwide acceptance of crypto staking returns, potentially resulting in a spike of staking pay-outs of much to $40 billion by 2025. Analysts at the bank believe that Bitcoin has the potential to become an attractive alternative to gold, surpassing a $140,000 price mark in the long run.
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