JPMorgan Hiring Software Engineers for ‘Collateral Blockchain Tokenization’

Mega-bank JPMorgan is looking to hire candidates for the bank’s Software Engineering Group to focus on “Collateral Blockchain Tokenization,” according to a recent job posting.

The terms “collateral” and “tokenization” in the job title are somewhat intriguing, especially since the vacancy specifications give almost no detail about what the position actually entails. Furthermore, the word “blockchain” does not appear anywhere other than in the job title.

“As a member of our Software Engineering Group, we look first and foremost for people who are passionate around solving business problems through innovation and engineering practices,” said the JPMorgan job posting.

Tier one U.S. banks are busy hiring staff to build out crypto and digital assets functions, with Citi reported this week to be planning 100 hires to beef up its digital assets division.

JPMorgan has also been busy adding staff to its Onyx blockchain, which includes a payments network and JPM coin. Within the Onyx suite of services, JPMorgan uses tokenization to represent real assets like U.S. Treasurys for intraday repo, done on a permissioned version of Ethereum called Quorum.

JPMorgan declined to comment.