JPMorgan Chase, one of the largest investment banks in the world, has announced the establishment of a new innovation lab in Athens, Greece, that will focus on blockchain-related capabilities. The lab will initially focus on three primary areas, including distributed ledger technology, artificial intelligence, and cryptography, to support the bank’s decentralized finance platform, Onyx.
The bank is planning to create new job opportunities in the region, with four engineering positions currently open ranging from associate to executive director. These roles include two full-stack developers, a mobile app engineer, and a launch technical manager.
According to Tryone Lobbam, the head of JPMorgan’s Onyx, the mobile app engineer will work on building “performant blockchain-based Digital Identity mobile apps and wallet prototypes.” Lobbam believes that digital identity is essential in unlocking the potential of web3 and enabling new interactions and services for web2 and web3.
This announcement comes amid a significant week for the cryptocurrency industry, with Coinbase announcing its results and the crypto market experiencing a surge in activity. JPMorgan’s move into blockchain-related capabilities demonstrates the bank’s continued interest in the technology and its potential to transform financial services. With this new innovation lab, JPMorgan aims to further explore and develop blockchain-related capabilities, positioning the bank at the forefront of the rapidly evolving crypto industry.