US banking giant – JPMorgan Chase – is looking for a Vice President (VP), Head of Payments Business Development, to join the West Coast Payments Technology, Media and Communications team to become part of its Web 3, Crypto, Fintech and Metaverse division.
JPMorgan’s latest foray into the digital asset industry may come as a surprise because its CEO – Jamie Dimon – is a vocal critic of Bitcoin.
Hiring a Crypto Guy
According to a LinkedIn job posting, JPMorgan is looking to hire a “curious and dynamic” leader who can guide the company’s operations in the “sea of technological change.” The banking giant described that an individual must have the necessary technical knowledge and be willing to cooperate with financial regulators and emerging entities in this field.
“Specifically, this individual will lead proactive prospects and customer engagement, collaborate with multiple internal partners, and develop solutions to meet the strategic and complex needs of our enterprise customers,” the presentation states.
Other key tasks will be “identifying and winning new payment opportunities in the Web3, Crypto, Fintech, and Metaverse subnets.” They will also need to analyze the operational structure of the clients and understand the clients’ cryptocurrency goals.
Availability to users at all times, explanation of all regulatory requirements to them and staying ahead of the competition will also be key tasks.
Next, JPMorgan explained that people with at least five years of experience in a financial services sales role could be a good fit for the role. Those who previously worked in the banking sector would be ‘strongly preferred’.
Although the company’s attitude towards cryptocurrencies is mostly negative, this is not the case when talking about the Metaverse. In February of this year, the Wall Street giant released a report in which it predicted that the integrated network of 3D virtual worlds will become a trillion-dollar market in the next few years.
Damon’s war with Bitcoin
However, it is rare for the banking giant (especially CEO Jamie Dimon) to say something positive about Bitcoin. Over the years, he has called the coin worthless and warned investors to stay away from it.
In October 2021, he reiterated his position, claiming that BTC acts as “foolish gold of the future” and has no “intrinsic value.” As such, financial regulators are expected to enforce strict rules on them.
Last month, JPMorgan’s chief global strategist – David Kelly – advised investors to sell their bitcoin holdings, citing increased market volatility and the risk of a recession.
After JPMorgan hired a crypto specialist, the Metaverse specialist appeared to strengthen the industrial presence first on CryptoPotato.