Sarah Olsen, former managing director for the corporate development of the Gemini cryptocurrency exchange, has changed her job. The new position in her CV would probably not interest us if it were not for one fact. He is currently the executive director of JP Morgan’s Corporate & Investment Bank (CIB).
Sarah Olsen changes her job
Before leaving Gemini in March, Olsen was involved in, among others in the design and promotion of Gemini stablecoin – Gemini Dollar (GUSD). Her success was, for example, establishing a partnership with the SPEDN cryptocurrency portfolio and listing GUSD on the BlockFi digital loans platform.
Olsen also previously held marketing functions in companies from the financial services market – Apollo Global Management and Brightwood Capital.
In her new position, Olsen will work on developing business matters as part of JP Morgan’s wholesale payments innovation team.
JP Morgan open to people from the BTC market
JP Morgan has been gathering talent from the cryptocurrency market for some time. In May, the company hired, for example, former CEO of the Bakkt cryptocurrency trading platform, Mike Blandin, as head of wholesale payment technology.
The bank also bravely participates in several cryptocurrency initiatives, including working on the issue of JPM Coin, a digital asset that is to be used to settle transactions between clients operating in the wholesale payments industry.
Last month, the largest bank in the United States also announced that it offers banking services for the Coinbase and Gemini cryptocurrency exchanges.
JP Morgan researches the cryptocurrency market
It is not the end. As we wrote recently, JP Morgan Chase has carefully analyzed the March market collapse. Quite a lot of space in the report is devoted to Bitcoin. According to analysts, the BTC market is clearly maturing, they also see a strong correlation of the cryptocurrency exchange rate with global stock markets.
The latest report, the above mentioned talent recruitment activities and JPM Coin show in which direction the bank’s policy is going. This is surprising because in 2017 Jamie Dimon, CEO of JP Morgan, attacked BTC, believed that the digital currency was a scam and threatened to fire any member of his company staff who would admit he was buying Bitcoins.