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Top JP Morgan Blockchain Executive Leaves For An “External Opportunity”

Courtesy of ZeroHedge View original post here.

A key blockchain executive at JP Morgan is slated to leave the firm. 

Christine Moy, who had previously held the title of global head of JPMorgan’s blockchain product Liink, is now moving on to an "external opportunity", according to Bloomberg

The announcement was made this week via an internal memo circulated by Umar Farooq, head of Onyx, JPMorgan’s blockchain unit, the report says. 

The memo read: “Christine has been instrumental in building and leading JPMorgan’s blockchain program, dating back to 2015 when the blockchain team consisted of fewer than five people. Fortunately, we have a very strong bench of exceptional leaders and experts in distributed ledger technology that will enable us to lead and innovate in this space in the future.” 

Moy's whereabouts after leaving JP Morgan are still unknown, though the report notes that many now-former banking executives have "become increasingly comfortable" with leaving traditional banks to join crypto and blockchain companies. 

After years of flip flopping, it still looks like JP Morgan may be ready to accept the future of crypto. Recall, we wrote earlier this week that the firm was "open for business" when it came to Metaverse, as well. 

Nearly five years have passed since Jamie Dimon called bitcoin "a fraud" and joked that he would fire any JP Morgan employee found to have purchased any digital tokens, we reminded our readers. 

But now JP Morgan has opened its first office in the metaverse, in Decentraland, the browser-based one of several "metaverse" platforms, which is backed by Digital Currency Group (which also created the Greyscale Bitcoin Trust). What they're calling the "JP Morgan lounge" was reportedly set up by Onyx, JPM's blockchain unit. 

JPM's Onyx group has also recently released a white paper on how JPM can explore business opportunities in the metaverse.

As its white paper begins: "The elements of a new digital age are converging at scale. The metaverse is the driving force bringing these elements together in a unified, immersive experience."

Readers can find the rest of JPM's metaverse white paper at this link, but be advised: nowhere in there does JPM denounce crypto, the blockchain or the concept of decentralized finance as "a scam":


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