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JPMorgan Chase: Positive take on the Crypto market, hiring Crypto-experts

JPMorgan Chase: Positive take on the Crypto market, hiring Crypto-experts

JPMorgan Chase, an American investment bank and financial services holding company, is hunting for crypto-smart candidates to fill an increasing number of digital asset amalgam positions.

Precisely, the company is looking for individuals experienced in the Bitcoin and Ethereum syndicates. The company has 34 welcoming positions for its crypto department, varying from product supervisors to blockchain engineers.

However, recently, JPMorgan CEO Jamie Dimon said at a virtual hearing hosted by the US House Committee on Financial Services on May 27 that Bitcoin, the largest cryptocurrency, is not supported by any assets. Further adding,

Something that’s not supported by anything I do not believe has much value. My own personal advice to people is to stay away from it.

It’s surprising that after the before-mentioned statements, the company is recruiting individuals from several countries, which include the United States, Singapore, Greece, and Mexico, for its crypto department.

On the brighter side, it confirms that the company has changed its take on the crypto market over the years, and now it recognizes the crypto market as a reliable asset class.

It looks like JPMorgan Chase is striving to build a unified technology platform on the asset class, as various software engineering roles will tackle the new product development. It’s additionally searching for people for its legal team to guarantee that it satisfies consistency guidelines, a practical approach in the market at this moment.

Even though Jamie Dimon disparaged cryptocurrency, but the bank has done plenty to increase its bitcoin and crypto-related offerings. In October 2020, It also announced the JPMCoin.

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.

Previously, many had dismissed crypto as just a trend without any actual value. Microsoft is among the companies that removed Bitcoin as a Payment Option From The Microsoft Store, Citing Fears Around The Cryptocurrency’s Volatility. And Microsoft founder Bill gates even said,

My general thought would be that if you have less money than Elon, you should probably watch out.

But the sudden change has once again demonstrated bitcoin’s staying power. Companies are becoming more eager to take advantage of the technology to remain competitive. This new expansion should help expand the appeal of crypto to the mainstream market.

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