The American banking large – JPMorgan Chase – is in search of a Vice President (VP), Payments Business Development Manager, to be part of its Technology, Media, and Telecom West Coast Payments Team to be a part of the Web 3, Crypto, Fintech, & Metaverse division.
JPMorgan’s latest push towards the digital asset business may very well be thought of a shock since its CEO – Jamie Dimon – is a fierce critic of bitcoin.
Hiring a Crypto Guy
According to a LinkedIn job offering, JPMorgan needs to appoint a “curious and dynamic” chief who may information the corporate’s operations in “this sea of technological change.” The banking large outlined that the person ought to have the required technical information and be prepared to collaborate with monetary regulators and rising entities within the area of interest.
“Specifically, this particular person will lead proactive prospect and consumer engagement, collaborate with a number of inside companions, and develop options to meet strategic and complicated wants of our company purchasers,” the providing reads.
Other principal obligations can be to “establish and win new funds alternatives within the Web 3, Crypto, Fintech, & Metaverse business subvertical.” They will even have to analyze purchasers’ operational construction and perceive the shoppers’ cryptocurrency targets.
Being obtainable for customers on a regular basis, explaining all regulatory necessities to them, and staying on high of the competitors can be key duties, too.
Subsequently, JPMorgan defined that solely people with no less than five-year expertise in a monetary providers gross sales function may match for the function. Those who’ve beforehand labored within the banking business can be “strongly most well-liked.”
While the corporate’s stance towards cryptocurrencies is predominantly unfavorable, this isn’t the case when talking about the Metaverse. In February this 12 months, the Wall Street behemoth launched a report the place it predicted that the built-in community of 3D digital worlds may turn out to be a trillion-dollar market within the subsequent few years.
Dimon’s War With Bitcoin
It is a uncommon occasion, although, that the banking large (particularly CEO Jamie Dimon) says one thing constructive about bitcoin. Over the years, he has labeled the coin nugatory and warned buyers to keep away from it.
In October 2021, he reiterated his place arguing that BTC serves because the “idiot’s gold of the long run” and has no “intrinsic worth.” As such, he expects monetary watchdogs to apply strict rules on it.
Last month, JPMorgan’s Chief Global Strategist – David Kelly – suggested buyers to promote their bitcoin holdings, citing the market’s enhanced volatility and the chance of recession.
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