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JPMorgan Expands Crypto Presence with Digital Assets and Blockchain Team
JPMorgan Chase is expanding its presence in the cryptocurrency market by building a Digital Assets and Blockchain team within its consumer banking division.
The move signals a deeper push into blockchain technology at one of the world's largest financial institutions, with JPMorgan seeking to position itself as 'a leader' at the intersection of traditional finance and crypto.
The new initiative is being developed within Chase, JPMorgan's consumer banking business, which serves 80 million everyday customers.
JPMorgan's CEO Jamie Dimon has previously been a critic of Bitcoin, describing it as 'a fraud', but the bank has increasingly developed products and services connected to digital assets in recent years.