The presence of cryptocurrencies among institutional investors is increasing, especially after the approval of Bitcoin Exchange Traded Funds (ETFs) in the United States. Companies such as JPMorgan, UBS and Wells Fargo have disclosed holdings in Bitcoin ETFs in their recent 13F filings.
This increase in institutional interest is also found in the professional sector. Executives with experience in traditional finance (TradFi) are turning to cryptocurrencies as the market matures. Former Credit Suisse and JPMorgan Jonathan Chang, is one such executive, now in the role of COO at layer 1 blockchain Nibiru.
He shared insights with Crypto Briefing on the valuable TradFi skills that can be used in cryptocurrencies, how grants are a powerful tool to attract a greater share of the traditional market, and how these professionals can help solve cryptocurrency-related problems.
Cryptocurrency Briefing: What was your biggest challenge in transitioning from traditional finance to cryptocurrencies? What set of skills learned from TradFi proved most valuable when entering this new market?
Jonathan Chang – Cryptocurrencies are known for their unique complexities. Traditional Finance (TradFi) offers a more recognizable framework for understanding decentralized finance due to its familiar concepts. However, there is still a learning curve, especially with the specialized terminology used in cryptocurrencies.
For example, while the principles of lending, including borrowers, underwriting, credit scoring and lenders, are well established in TradFi, the application of these concepts in cryptocurrencies, built on smart contract platforms and enhanced with tokenomics, introduces a new level of complexity. .
In fintech the ledger is essential for recording banking transactions. This concept closely parallels the blockchain ledger used in cryptocurrencies, which also records transactions but does so in a decentralized manner.
I’ve noticed that fintech and crypto startups often share similar goals, particularly in accelerating payments and financial services. The main difference lies in the technology stacks each uses to achieve these goals.
Now that I’m more involved in the world of cryptocurrencies, my background in traditional finance is proving to be advantageous. My experience in equity research has improved my analytical and writing skills and deepened my understanding of market movement.
In investment banking I honed my skills in deal structuring, team management and general soft skills. Venture capital and growth capital provided opportunities to meet diverse founders, understand market mapping, and appreciate business differentiation. These skills proved invaluable, as they helped in process management, quality control, and leveraging a large network in new environments.
Creative problem solving is often essential, and having a variety of experiences from high-pressure situations has become increasingly valuable. These reference points from my past work are useful tools for navigating and innovating within cryptocurrencies.
Cryptocurrency Briefing: Are Grants a Valuable Way to Attract Talent to Cryptocurrency? Do you think the grants are just a monetary incentive or do you think about a correct introduction to the market and its technologies?
Jonathan Chang – Grants play a crucial role in attracting talent to the cryptocurrency and DeFi sectors by providing more than just financial incentives. At a time when funding is limited and developers and entrepreneurs urgently need resources to bring their ideas to life, grants offer critical initial support.
Equally important, however, is the comprehensive ecosystem support provided by a well-designed grant program. This includes access to mentorship, technical resources and a network of like-minded innovators, fostering an environment ripe for learning, experimentation and growth.
At Nibiru, our grant program is designed to achieve these goals. We offer financial assistance and leverage our extensive network and expertise to improve the success of our beneficiaries. This support includes connecting with VC partners, offering mentorship opportunities, and providing access to our advanced developer suite. Our goal is to provide a comprehensive introduction to the market and the tools you need to succeed.
The Nibiru ecosystem is dedicated to empowering developers, helping them become catalysts for positive Web3 transformation. Our grant initiative not only supports through partnerships and mentorship, but also increases the visibility of projects within our ecosystem with targeted marketing support.
Our grants are structured with Total Value Locked (TVL) goals in mind, with the goal of finding partners committed to long-term growth within the chain. During our diligence process, the chemistry between the founder and our team is a key factor in ensuring aligned goals and collaboration potential.
Cryptocurrency Briefing: Despite being better, crypto UX is still a threshold to capture more users and talent. Do you think the perspective of non-native crypto talent is an important element in solving this problem?
Jonathan Chang – Absolutely. One of the main challenges in the cryptocurrency industry today is the complexity of the user experience. Despite significant innovations, many blockchain applications remain too complex for the average user.
This is where non-native crypto talent becomes crucial. These individuals may not possess deep technical knowledge of blockchain, but they offer fresh perspectives and a strong focus on user-centered design.
They are critical to bridging the gap between sophisticated technology and the seamless, easy-to-use experiences people expect. On Nibiru we see it in action. Our team, from a mix of backgrounds, including traditional finance, technology and consumer industries, brings diverse perspectives critical to developing recognizable products.
They challenge us to simplify and humanize our offerings, pushing us to prioritize the user journey over technical details. As a result, they help us create experiences that are not only functional but truly enjoyable. So, to answer your question directly: Yes, I strongly believe that non-native crypto talent is essential to addressing UX challenges in the crypto industry.
