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Apollo Global Management, one of the world’s largest investment and private equity firms with over $450 billion in total assets, has hired Christine Moy, a former crypto executive at JPMorgan, as it looks to invest in the web3 industry.

Moy has joined Apollo as partner and head of digital asset strategy, a source familiar with the matter told The Block. Bloomberg first reported the news.

“She might be the most senior woman or even person in tradfi [traditional finance] asset management dedicated to digital assets,” the source said.

Moy left JPMorgan in February as its global head of metaverse within the bank’s Onyx team. She had worked for JPMorgan for more than 18 years and that had been her only employer to date, according to her LinkedIn profile.

At Apollo, Moy will help the firm invest in blockchain and web3 startups. John Zito, deputy chief investment officer of credit at Apollo, told Bloomberg that the firm is unlikely to invest in bitcoin, tokens or protocols unless there are revenue-generating businesses attached to such projects.

Apollo will make bigger investments, with its checks ranging from $50 million to $250 million, Zito told Bloomberg.

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