Wall Street bank JP Morgan is looking to dive deeper into the Web3 space. According to the latest job offer posted by the lender on LinkedIn, it is looking for a ‘Vice President for Payments Business Development’ to lead its technology team. The focus area assigned to this role will have a lot to do with exploring Crypto, Metaverse and Web3. Technical knowledge of blockchain networks is a skill that JPMorgan has noted for this recruitment.
At a broader level, the bank, which has more than 135,000 customers in more than 180 countries, aims to expand its financial services. Cryptocurrencies and virtual digital assets have, in recent times, emerged as valuable decentralized assets of significant value with the sector’s market cap reaching $3 trillion (approx. Rs. 2,38,59,465 crore) last year.
“Identify and win new payment opportunities in the Web3, crypto, fintech and metaverse industry subverticals, treasury services, merchant services, commercial cards and trade, particularly among clients with little or no wallet share,” JP Morgan wrote. The LinkedIn postsOutline the key responsibilities of whoever performs the role.
In addition, the person will also be tasked with gaining a thorough understanding of the business opportunities the bank can position itself with players from the Web3, Crypto, FinTech and Metaverse industries.
“Understand industry trends to better determine their needs and identify potential new business opportunities for JP Morgan Payments through appropriate solutions; Traditional cash management, trade, international, liquidity and commercial cards,” the post noted.
For this opportunity the applicant’s skills are not compromised financially. Only those with more than five years of experience are eligible to apply for this post.
In February 2022, JP Morgan Decentraland became the first major global bank to enter the Metaverse.
inside Report Released earlier this year, JP Morgan predicted that the economics of the metaverse – or metanomics – would soon grow to $1 trillion (roughly Rs. 79,55,450 crore) in annual revenue.
