Investment banking giant JP Morgan & Chase has reportedly moved to open a crypto innovation lab in Athens to foster innovation in blockchain, AI, and cryptography, e-financials reports.
Head of JP Morgan’s DeFi platform Onyx Tryone Lobban confirmed on Feb. 21 that the investment giant had opened an innovation lab in Athens, initially focusing on building payment capabilities in support of Onyx.
The crypto lab will provide research and development (R&D) services on blockchain, AI, and cryptography to payment businesses globally.
JP Morgan has reportedly moved its asset and wealth management department employees to the new office in Athens.
In addition, the crypto lab is looking to fill in four engineering positions, including two full-stack developers, one mobile app engineer, and a technical manager.
The mobile app engineer will work on “performant blockchain-based digital identity mobile apps and wallet prototypes. Lobann said that digital identity could unlock new interactions and services for web2 and web3.
JP Morgan in crypto
JP Morgan fully forayed into the crypto industry in 2022 after it acquired the “JP Morgan Wallet” trademark. The trademark allowed it to offer crypto payment and custody services to its clients.
The investment giant also completed its first cross-border transaction on a public blockchain, following partnerships with New York Bank Mellon and Fidelity bank.
In its latest Global Markets Strategy report, JP Morgan said it is optimistic that the crypto and traditional financial industry could converge in the presence of appropriate regulation.
The post JP Morgan opens crypto lab in Athens appeared first on CryptoSlate.
