Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Blockchain Exec Parting Ways with JPMorgan to Launch Venture

Published 04/03/2018, 04:24 AM
Updated 04/03/2018, 04:31 AM
 Blockchain Exec Parting Ways with JPMorgan to Launch Venture

JPMorgan Chase (NYSE:JPM) blockchain executive Amber Baldet is leaving the Wall Street behemoth to start her own venture. She has been the head of JPMorgan’s Blockchain Center of Excellence, which carried out several pilots and mapped out the bank’s blockchain strategy. In an internal memo seen by Reuters, the company said Christine Moy would replace Baldet.

In a statement sent to media channels, JPMorgan spokeswoman Jessica Francisco said:

“Amber is extremely talented and helped build the outstanding team we have today. We respect her desire to start her own venture, and we wish her nothing but the best.”

JPMorgan is one of the largest Wall Street banks to demonstrate interest in blockchain, which is the technology underpinning Bitcoin and most cryptocurrencies. The company has launched several blockchain initiatives, among them Quorum - a blockchain solution focused on applications and aimed at enterprises.

Baldet was responsible for managing product development at Quorum and putting in place the blockchain strategy of the investment bank.

In October 2017, JPMorgan announced a collaboration with the Royal Bank of Canada and the Australia and New Zealand Banking Group to build a blockchain-based platform for global payments. The Interbank Information Network (IIN), as the project is called, is expected to support faster payments and increased security. The IIN, which is powered by Quorum, was working as of February 2018, according to JPMorgan’s CFO Marianne Lake.

JPMorgan was among the first banking giant to show interest in blockchain although its CEO made disparaging comments about Bitcoin. In September 2017, Jamie Dimon made headlines by saying that Bitcoin was fraud and he would fire everyone involved with it.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Moy, the new head of the Blockchain Center of Excellence, has been managing blockchain product development at the investor services and capital markets division of JPMorgan.


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.