{"id":1213,"date":"2022-02-17T16:23:59","date_gmt":"2022-02-17T10:53:59","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=1213"},"modified":"2022-02-17T16:24:00","modified_gmt":"2022-02-17T10:54:00","slug":"jp-morgan-is-first-wall-street-bank-to-open-account-in-metaverse-launches-virtual-lounge-in-decentraland%ef%bf%bc","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/jp-morgan-is-first-wall-street-bank-to-open-account-in-metaverse-launches-virtual-lounge-in-decentraland%ef%bf%bc\/","title":{"rendered":"JP Morgan is first Wall Street bank to open account in metaverse; launches virtual lounge in Decentraland\ufffc"},"content":{"rendered":"\n

JPMorgan Chase & Co. has a lounge in the metaverse: Visitors are greeted by a digital portrait of Jamie Dimon and a roaming tiger. Walk upstairs and you\u2019ll see an executive\u2019s presentation on the crypto economy.<\/p>\n\n\n\n

The lounge is located at the Metajuku mall in Decentraland, a browser-based metaverse backed by the Digital Currency Group. Onyx, JPMorgan\u2019s blockchain unit formed in 2020, set up the lounge as it released a paper on how businesses can explore opportunities in the metaverse.<\/p>\n\n\n\n

JPMorgan is the first Wall Street bank to launch a presence in the metaverse, joining a diverse group of brands to do so including Samsung and the Barbados embassy. The bank has been a proponent of blockchain technology and its use in financial transactions, as evidenced by its own JPM Coin. The metaverse effort represents a further step in its investment in building out infrastructure in the crypto and blockchain ecosystem. Decentraland allows users to explore its metaverse by creating avatars and buying goods including land with its native currency MANA.<\/p>\n\n\n\n

The early part of JPMorgan\u2019s blockchain efforts was \u201canalyzing the internal use cases,\u201d said Christine Moy, Onyx global head of Liink, crypto and the metaverse, in an interview. \u201cNow we are focused on driving value externally by providing infrastructure\u201d including blockchain and payments technology to clients such as game publishers.<\/p>\n\n\n\n

In the paper, the bank said the success of the metaverse is dependent on having a \u201crobust and flexible financial ecosystem\u201d and its core competencies in cross-border payments, foreign exchange, financial assets creation, trading and safekeeping can play a \u201cmajor role in the metaverse.\u201d<\/p>\n\n\n\n

Similar to JPMorgan\u2019s role in the real world, \u201cwe are well positioned to bring together global trade and commerce\u201d across digital universes, said Moy. \u201cI would expect we would have a presence in all the major ones.\u201d<\/p>\n\n\n\n

For clients thinking about entering the metaverse, JPMorgan can provide an \u201cintegrated payments hub\u201d with full solutions such as ledgering and wallets, said Adit Gadgil, head of e-commerce and TMT at JPMorgan Payments.<\/p>\n\n\n\n

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JPMorgan Chase & Co. has a lounge in the metaverse: Visitors are greeted by a digital portrait of Jamie Dimon and a roaming tiger. Walk upstairs and you\u2019ll see an executive\u2019s presentation on the crypto economy. The lounge is located at the Metajuku mall in Decentraland, a browser-based metaverse backed by the Digital Currency Group. Onyx, JPMorgan\u2019s blockchain unit formed in 2020, set up the lounge as it released a paper on how businesses can … Continue reading “JP Morgan is first Wall Street bank to open account in metaverse; launches virtual lounge in Decentraland\ufffc”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":1215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,210,75,158,166,311,228,227,103,254,102,224,257,298,300,101,373,105,301,165,327,329,76,77,78,79,247,347,365,356,308,358,361,355,353,352,350,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,374,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,145,11,150,153,120,9,271,190,191,13,18,8,10,269,148,151,146,25,285,27,21,194,50,33,20,28,49,127,121,230,295,245,357,310,351,380,377,213,26,182,111,31,62,30,42,57,343,321,186,64,206,59,53,264,128,43,51,32,187,35,55,44,270,196,47,37,195,45,39,40,203,38,143,152,129,142,46,63,67,61,65,71,54,117,68,287,193,205,66,204,70,109,163,69,58,239,114,178,181,179,180],"class_list":["post-1213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-investment","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-telegram-channel","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-intraday-tips-provider-in-india","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-option-trading-telegram-channel","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-sebi-registered-telegram-channel","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-best-stock-tips-provider-in-telegram","category-eqwires-best-stock-tips-provider-on-telegram","category-eqwires-genuine-stock-tips-provider","category-eqwires-high-accuracy-stock-tips-provider","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","category-high-accuracy-intraday-tips","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-tr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