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JP Morgan To Launch New Digital Identity Feature In Metaverse

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US multinational investment bank JP Morgan continues to expand its presence in the metaverse. Now, the financial services holding company has announced plans to allow users to traverse digital spheres using a single digital identity.

on October 26th press releasea multinational investment bank has confirmed plans to develop a digital identity feature that will allow users to select the identity credentials they wish to share through their online interactions.

JP Morgan launches ID feature on Metaverse

According to JP Morgan, the new Digital Identity feature will allow users to seamlessly move between digital realms such as Web3, DeFi and the Metaverse. The Digital Identity feature gives users complete control over their digital credentials.

JP Morgan’s Onyx powers new digital identity services. Launched in 2020, Onyx is one of the first bank-driven blockchain-powered platforms to enable users to trade value, information and digital assets.

JP Morgan hopes to use its Digital ID feature to allow crypto fans to explore, share and view their digital assets using a single digital ID. The holding company said:

“The image of using only your credit score to take advantage of the option to buy now and pay later without revealing all your personal information. Freedom to create content as you move between them.”

Other JP Morgan Metaverse Investments

Earlier this year, JP Morgan launched the Metaverse Lounge. Decentralandone of the most popular blockchain-powered metaverses and the first bank to establish a presence in the metaverse.

At that time, JP Morgan began allowing its users access to banking services. This includes opening an account, depositing a check, and filling out a mortgage app, just like in the real world. JP Morgan says customer interest in the Metaverse is growing.

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