00:09 — JP Morgan is the largest bank in the United States. The company has revealed that it will become the first lender to arrive in the Metaverse.
00:26 — They’re opening a lounge on Decentraland called the Onyx Lounge.
00:39 — It’s not surprising that this huge step forward is coming from JP Morgan. In 2021, it was the first bank to roll out a bank-backed cryptocurrency. Additionally, it became the first bank to allow clients to invest in a Bitcoin fund. So, JP Morgan is a real trailblazer.
01:04 — For a long time, traditional banking institutions ignored cryptocurrencies. They ignored the Bitcoin revolution. Now, JP Morgan is ahead of the game because it’s already invested in crypto and understands the blockchain space.
01:38 — The other banks need to start getting a move on now. The first step to getting into the Metaverse is to understand cryptocurrencies. Without that understanding, there’s no way that I can see other regular banks getting involved in Metaverse spaces.
01:52 — JP Morgan’s transition from the real world to the Metaverse has been seamless because of its initial investment in the blockchain space.
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