JPMorgan needs blockchain experts to boost payment network

Investment bank JPMorgan is looking for blockchain experts to ramps up its payment network to provide effective services

JPMorgan Chase, one of the world’s largest financial institutions, has 34 open blockchain job positions on its website. The investment bank is looking for blockchain experts as it beefs up JPM Coin (the bank’s wholesale payments token) to provide improved services.

A search of the term ‘blockchain’ on the bank’s official website reveals 56 open positions, with 34 earmarked for blockchain experts and developers.

It is a fantastic feat for JPMorgan as it remains one of the leading banks participating in the blockchain and cryptocurrency space. Most of the job postings were made over the past two months. The bank wants experts and developers from the United States, India and Singapore to fill these roles.

Furthermore, most of the jobs are directly linked to Onyx; the bank division created last year to manage JPM Coin. According to the job posts, JPMorgan needs several engineers to help integrate JPM Coin and Liink (a blockchain-based interbank information network of over 400 banks) into the bank’s payments architecture. JPMorgan had previously revealed that Onyx had around 100 jobs, and the recent job posts indicate they aren’t done hiring.

Big banks enter the crypto space

Cryptocurrencies have been gaining attention and adoption from the mainstream financial world, and the big banks are joining the party. In recent months, megabanks have been entering the crypto space and are looking to provide services such as cryptocurrency custody and more.

As one of the leading US financial institutions in the blockchain space, JPMorgan is yet to make such moves. However, the bank is focusing on harnessing the power of blockchain technology to improve its payments services.

The bank is miles ahead of its peers in terms of hiring blockchain experts. JPMorgan currently has 56 blockchain job openings, which is higher than that of the other banks. Goldman Sachs has two blockchain job openings, despite recently restarting its cryptocurrency trading desk. Morgan Stanley also has the same number of blockchain job openings. BNY Mellon also recently announced its entry into the crypto and blockchain space and already has four job openings.