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JP Morgan’s Takis Georgakopoulos clarifies that the firm have always been advocates for blockchain and crypto

JP Morgan’s Takis Georgakopoulos clarifies that the firm have always been advocates for blockchain and crypto

Quick take

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  • Takis Georgakopoulos has said that despite what many believe, the company has always been advocates of blockchain technology.
  • Speaking at the Blockshow event in Singapore, he said that the company has always looked at blockchain technology and the overall crypto industry in three different ways...

Takis Georgakopoulos, the head of wholesale payments at JP Morgan Chase has said that despite what many believe, the company has always been advocates of blockchain technology.

Speaking to Jill Malandrino from NASDAQ at the Blockshow event in Singapore, the wholesale payments head said that the company has always looked at blockchain technology and the overall crypto industry in three different ways.

Bitcoin and other digital assets created by institutions and central banks - and blockchain technology.

Georgakopoulos went on to note that the institution had only softened its stance on bitcoin because it only had reservations about non-fiat based crypto assets.

He went on to accept that numerous crypto on-ramps have integrated some key know your customer protocols which have made it easier for the company to work with crypto platforms.

When talking about the technology behind bitcoin, blockchain, Georgakopoulos said that the bank had been “investing quite a lot“ into new applications.

Onyx was recently launched by JP Morgan as a part of its blockchain business unit earlier this year. According to the announcement, just over 100 employees have been dedicated to this subsidiary. On top of this, the JPM coin by the institution is going to be used for commercial business when it is launched.

For more news on this and other crypto updates, keep it with CryptoDaily!

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