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JPMorgan Seeks Crypto-Experienced Employees

As JPMorgan Chase is expanding its crypto services, it has opened up new vacancies within the company. According to the job postings page of the multinational financial giants, the company is now in search of crypto-experienced employees.

Blockchain Engineers and Crypto-Experienced Lawyers Top The Vacancy List

However, the company would prefer experienced hands in the bitcoin and Ethereum space. As a result, the company is seeking to fill 34 vacant positions for its crypto section; some positions include blockchain engineers and product managers. Based on these existing vacancies, the bank’s goal in the cryptocurrency market is clearly defined – crypto-related merchant and consumer payment services. Transactions within these crypto product service offerings alone are estimated to be over $1 trillion every year.

Potential recruits are being sought from various regions such as Mexico, Greece, Singapore, and the United States. These vacancies further prove the bank’s desire to be a strong force in the cryptocurrency and blockchain technology space. In addition, the company now views the virtual currency space as a legal asset class, maintaining a contrasting view before this year. Based on this move, crypto experts suggest that bitcoin might rise to $147,000 in the midterm future even though it will undergo some corrections along the way.

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However, the firm’s recent disclosure about bitcoin reveals a contrary opinion. The bank predicts a fall in the price of bitcoin and expects Ethereum to have a better ROI than bitcoin over the long term. The number of vacancies for software engineers suggests that JPMorgan chase might be interested in developing a tech platform completed devoted cryptocurrency and crypto-related products. Some of the vacancies include roles for an entire crypto-experienced legal team. Thus, the company won’t defy compliance standards, especially in the wake of recent government policies regarding this asset class. In recent times, the firm has made several modifications to its virtual currency services. In October last year, it launched a business unit that caters solely to blockchain and cryptocurrency. The bank also has a JPMcoin token for internal transactions.

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Virtual Currency Space About to Experience A Unique Turnaround

Like many other companies who have previously distanced themselves from the crypto space, JPMorgan is also changing its opinion about the digital currency market by expanding its crypto-related services. Paypal and visa’s entrance into the market proves that these traditional companies also desire to cash out from these fascinating technology. As of 2019, most of these companies had discounted the crypto market as a temporary craze that won’t soon fade away. But their new stance about the crypto market is proof that bitcoin is indeed here to stay. Most companies want to maintain their competitiveness in their industry. Hence, they are also adopting this technology so as not to be found wanting. As a result, the crypto space should gain higher relevance now with the mainstream market. The entrance of these top dogs legitimizes the crypto space and prompts indecisive investors to invest in it.

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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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