Christine Moy, who led the Metaverse Department of JPMorgan’s Onyx blockchain unit, has moved to Apollo Global Management with assets of $450 billion. She will focus on investing in Web3 startups, Bloomberg reports.
The executive was granted partner status and headed the Digital Asset Strategy department.
Moy left JPMorgan in February 2022, after 18 years with the financial holding company.
The firm is interested in a wide range of projects, including those involving tokens. Acquisition of the first cryptocurrencies and other digital assets where no operating business underpins them is not envisaged.
“We are not looking only at Bitcoin, but at real use cases such as custodial services, securitisation, and marketplaces. We believe in the ecosystem of digital assets and its potential to transform the broader financial services industry,” — said John Zito, Deputy CIO of the firm.
According to an Apollo representative, changes are expected for products such as lending, payments, insurance, and content-licensing payments. Digitally, securitisation and KYC can also be performed, he added.
Typically, the firm’s investment size ranges from $50 million to $250 million.
In April 2022, Goldman Sachs выдал первый кредит с обеспечением в виде биткоина.
Shortly before that, a representative of the organization сообщил о начале экспериментов в области токенизации реальных активов и NFT применительно к финансовым инструментам.
Earlier, Goldman Sachs specialists назвали блокчейн фундаментом метавселенной.
The potential of this market was also noted by Bank of America, Citibank and JPMorgan. The latter in February 2022 opened a representation of the Onyx blockchain platform in Decentraland.
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