Investment banking giant JP Morgan & Chase has decided to open a cryptocurrency innovation lab in Athens to foster innovation in blockchain, AI and cryptocurrency, e-financials reports.

Onyx Triwan Lovan, Head of DeFi Platform at JP Morgan Confirmed On February 21st, the investment giant announced the opening of an innovation lab in Athens, initially focused on building payments capabilities to support Onyx.

Crypto Lab provides research and development (R&D) services in blockchain, AI, and cryptography to payment businesses around the world.

JP Morgan has reportedly moved its wealth and wealth management department employees to a new office in Athens.

Additionally, Crypto Lab is recruiting for 4 engineering positions, including 2 full-stack developers, 1 mobile app engineer, and 1 technical manager.

The Mobile App Engineer will work on a “High Performance Blockchain-based Digital Identity Mobile App and Wallet Prototype”. Lobann said his digital ID could unlock new web2 and web3 interactions and services for him.

JP Morgan’s cryptocurrency

JP Morgan made a full-fledged entry into the cryptocurrency industry in 2022 after acquiring the “JP Morgan Wallet” trademark. This trademark allowed us to offer crypto payment and storage services to our clients.

The investment giant has also completed its first cross-border transaction on a public blockchain following partnerships with Bank of New York Mellon and Fidelity Bank.

JP Morgan said in its latest global market strategy report that it is optimistic that the cryptocurrency and traditional financial industries could converge in the presence of proper regulation.

By Jules

Leave a Reply