“Banking giant JP Morgan announced it is developing a digital identity offering empowering users to “choose identity credentials you want to share throughout your interactions online, across the web3, the metaverse, DeFi, and beyond.” The solution is not a live product offering and there are no guarantees the bank will launch it, JP Morgan said in a disclaimer. The digital identity offering is powered by JP Morgan’s Onyx, one the first bank-led blockchain platforms allowing users to trade value, information, and digital assets. The platform processed more than $300 billion in short-term loans since its launch in December 2020 through June 2022. Now, the Wall Street giant is working on a web3 digital identity solution to provide users with total control over their digital credentials, allowing them to prove who they are from anywhere and letting them share “only what you want to share.” JP Morgan’s goal is to enable users to store, share, and view digital assets bound to a single digital identity.”