JP Morgan Crypto Chief Christine Moy Departs Company After Piloting Its Metaverse Move

Christine Moy, the chief crypto executive of JPMorgan Chase who enabled the bank's Metaverse move at a time when most big banks were hesitant to embrace it, is leaving the company. She announced her exit Tuesday in a LinkedIn post but did not say where she was headed next.

Moy listed some of her work in the crypto and blockchain domain in the post. She was the global head of Liink, which is a peer-to-peer blockchain-based network facilitating the transfer of payment information; and Onyx, the first blockchain-based platform for the exchange of value backed by a bank. She was recently promoted as the head of Crypto and Metaverse at JPMorgan.

She also spearheaded the bank's entry into Web3 by issuing its first NFTs. More importantly, Moy is considered a pioneering woman in the male-dominated realm of crypto and Web3.

Sushil Raja, the CFO and head of strategy at Onyx, will replace Moy, Bloomberg reported. Moy's resignation was confirmed by Umar Farooq, head of digital treasury services and blockchain at JPMorgan, in an internal memo.

Moy played a major role in JPMorgan's entry into Decentraland, making it the first bank to enter the Metaverse. The debut of JPMorgan's lounge in Decentraland's Metajuku mall coincided with the publication of a study co-authored by Moy on how businesses can explore and benefit from the Metaverse.

"As for my next world-building adventure, please stay tuned. I am super excited to share with you what is next!" Moy said in her post.

A study by search firm Heidrick & Struggles and the Global Blockchain Business Council said that executives from traditional financial-services organizations are becoming more comfortable joining crypto and blockchain startups, where decision-making is faster and hierarchies are flexible.