JPMorgan nabs former Gemini executive to work on wholesale payments innovation


Sarah Olsen, a former executive at crypto exchange Gemini, has joined the ranks of JPMorgan's blockchain staff, a spokesperson for the bank confirmed to The Block. 

Olsen, who previously was a managing director at Gemini, joined JPMorgan in June, according to her LinkedIn profile. As an executive director in JPMorgan's corporate investment bank, Olsen will be responsible for business development within the firm's wholesale payments innovation team. 

The hire is just the bank's latest high-profile acquisition from the digital asset world. JPMorgan recently brought on Mike Blandina, previously the chief executive of Intercontinental Exchange venture Bakkt, to head up wholesale payments technology, as Reuters reported in April. 

JPMorgan's blockchain business spans a number of initiatives, including a stablecoin-like project called JPMCoin and Quorum, an enterprise version of public blockchain Ethereum. Earlier this year, Reuters reported that JPMorgan was "in talks to merge" Quorum with crypto startup Consensys. 

During her time at Gemini, Olsen was involved in the exchange's efforts to push its own stablecoin, the Gemini dollar. She left the company in March.

Olsen previously held positions in marketing at financial-services firms including Apollo Global Management and Brightwood Capital. 

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Aug 11, 2021, 5:18PM UTC