Wall Street bank JP Morgan seems to be looking to dig deeper into the Web3. According to a latest job offer posted by the lending company on LinkedIn, they are looking for a ‘Vice President of Payments Business Development’ to lead their technology team.
The focus area for the appointee to this role will be
heavily involved in the exploration of cryptocurrency, the metaverse, and Web3.
Technical knowledge of blockchain networks is a skill that JP Morgan noted for
this recruitment.
On a broader scale, the bank, with more than 135,000
customers in more than 180 countries, is looking to expand its financial
services. Electronic money and virtual digital assets have, in recent times,
emerged as decentralized assets of considerable value with the sector’s market
capitalization hitting $3 trillion last year.
“Identify and capture new payment opportunities in
Web3cryptocurrency, fintech, and sub-market industry, on treasury services,
merchant services, merchant and merchant cards, especially with customers we do
not have or low wallet rates ,” wrote JP Morgan in LinkedIn Postsoutline the
key responsibilities for anyone taking on this role.
Additionally, this person will also be tasked with gathering
an overall understanding of the business opportunities that the bank can match
with Web3 players, crypto, fintech and diverse industries.
“Understand industry trends to better define their
requirements and identify potential new business opportunities for JP Morgan
Payments through the appropriate solution(s); traditional, commercial,
international, liquidity and card cash management,” the post noted.
The financial giants do not compromise expertise for suitors
for this opportunity. Only those with more than five years of experience are
eligible to apply for this position.
Back in February 2022, JP Morgan became the first major
global bank to mark its entry Decentral and metaverse.
In one report released earlier this year, JP Morgan predicts
that the economics of the metaverse – or metanomics – will soon grow to $1
trillion in annual revenue.
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