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JPMorgan’s crypto unit boss wants to disrupt the bank from within

Umar Farooq has big plans for digital assets at Wall Street's biggest lender

Can blockchain really transform banking? Umar Farooq thinks so

By
Trista Kelley

Umar Farooq, head of JPMorgan's digital assets unit Onyx, is on a mission to disrupt the banking system via the digital ledger technology known as blockchain.

In February 2019, JPMorgan said it would roll out a digital currency, JPM Coin. In October 2020, the firm created a new unit for blockchain-linked projects, and in August last year, it allowed its wealth management clients access to crypto funds.

Farooq...