JPMorgan to launch a crypto innovation lab in Athens JPMorgan Bitcoin blockchain
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Onyx, which was developed by the bank in 2020, is a blockchain-based platform for wholesale payments transactions. This development from New York-based JPMorgan comes at an interesting time for the global economy as the bank is laying off traditional engineering roles at the same time it’s hiring blockchain talent, suggesting that a shift is occurring in the way traditional finance is approaching the realm of blockchain.
Crypto can also be "dangerous," Dimon added, pointing to billions of dollars stolen via hacking, theft, and other schemes in addition to issues such as money laundering. In October 2021, the CEO called Bitcoin worthless when it was trading close to its all-time highs. The crypto winter of 2022-23 has only served to further cement Dimon’s opinion of the asset class.
In November, the U.S. Patent and Trademark Office approved the bank’s trademark application for the “JP Morgan Wallet,” which is designed to transfer and exchange virtual currencies, facilitate crypto payment processing, and support virtual checking accounts and financial services in general.
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