JPMorgan’s Onyx Launches Blockchain Lab in Athens Amid Crypto Push
American banking giant JPMorgan Chase is still making headway in the cryptocurrency industry, despite Jamie Dimon's (the current CEO), negative opinion on Bitcoin.
JPMorgan’s decentralized finance (DeFi) branch, Onyx, is establishing an Innovation Lab in Athens, Greece, focusing on creating blockchain-related capabilities, according to Tyrone Lobban, the platform’s Head of Blockchain Launch and Onyx Digital Assets, in a LinkedIn post on February 13.
Lobban explained that the lab’s launch is part of JPMorgan’s efforts to expand the idea of digital identity, which it considers critical to advancing its Web3 services. The Athens team will participate in the Onyx Blockchain Launch and will play a key role in exploring and developing digital identity solutions.
Lobban encouraged skilled engineers interested in working on blockchain, identity, and Web3 to apply for the platform’s new positions in Greece.
JPMorgan’s subsidiary, Chase Bank, allows U.S. account holders to purchase crypto through a regulated broker or exchange. They are registered with the Financial Crimes Enforcement Network (FinCEN) and authorized to sell digital assets like Bitcoin (BTC) and Ethereum (ETH).
JPMorgan’s increased focus on cryptocurrencies appears to respond to the growing public interest in the sector, which the company recognized by examining its clients’ activities. As of June 2022, the firm found that nearly 13% of all households had transferred money into or out of a crypto account at least once.