Despite the bear market, JP Morgan is not giving up on crypto

It’ll be better tomorrow… JP Morganone of the five largest banks in the world, was slow to recognize that cryptos might interest him. But for some time now, its leaders have multiplied declarations of love towards Bitcoin, the metaverse or even DeFi. In an interview with Bloomberg Television on Tuesday, a Manhattan bank official opened up about the conjuncture current and hinted at a coming good for the ecosystem. Let’s enjoy a little dose of good news together!

JP Morgan sees a sharp slowdown in interest in crypto…

Takis Georgakopoulos is Global Head of Payments at JPMorgan Chase & Co. He is therefore a wise observer of the evolution of the environment and the advent of cryptocurrencies. Last Tuesday he let himself go to some analyzes and confidences on the situation of the last few months. In the means of payment sector, he explains that cryptos have generated a lot of curiosity and requests until about last April. Since, ” we see very little demand [depuis] but the bank will still support customers who want to use this method“, he said about it.

He observes – like everyone – a net slow-down trade and the market. And above all, he attended bankruptcy of leading digital asset companies“. This is not without concern for potential crypto users. For him, this bad patch macroeconomic can be explained by several factors such as the conflict in Ukrainerecord inflation in UNITED STATES or the energy crisis in Europe. But far from being pessimistic, he lifts the veil on a future radiant brought new uses for cryptocurrency.

A JP Morgan official indulges in rather bullish confidences on cryptos

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…but is betting on renewed growth in the years to come

The tokenization financial assets is a sector that arouses a great deal of interest from its teams. The bank has even recently become one of the main backers of the London startup Owneraspecializing in this area. Georgakopoulos even adds about the novelties, having tested the ” collateralization of commercial settlements“. He finds this technical opportunity, specific to the blockchainvery interesting.

Finally, he confides that the sectors of the video games and metaverse arouse great enthusiasm among JP Morgan. Earlier in the summer, the company even posted an ad to hire someone. The desired profile? Someone of ” curious and dynamic » whose main responsibilities would be « Identify and win new payment opportunities in the multifaceted Web 3, Crypto, Fintech and Metaverse industry“. This after having published a report a few months ago entitled “ Opportunities in the Metaverse“. It could be read that ” virtual reality could infiltrate all sectors in the future and turn into a market worth at least a billion dollars“.

While the small carriers of Bitcoin unfortunately give in to panic following months of red candles, the banking institutions and financial are accelerating their forays into cryptocurrency. Discreetly, pawns are advanced, officials make statements in the press and the Nasdaq company is even preparing to launch its own digital asset management service. Method Coue for crypto investors in search of good news or real progress for theadoption ? It’s up to you to see how to take this series of positive news, we are happy to take a dose ofhope !

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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