JPMorgan Blockchain Lead Christine Moy has been promoted to lead the bank's Ethereum-based Interbank Information Network (IIN), according to a memo sent to employees on Thursday.

The network was developed to solve some of the challenges in interbank information sharing, and rivals upstarts including Ripple and Transferwise. It's powered by Quorum, the permissioned-variant of the Ethereum blockchain acquired by ConsenSys in August.

According to JPMorgan, more than 400 banks have joined the network, including more than half of the top 50 banks.

Moy will take the IIN lead from the bank's global head of clearing, John Hunter, who helped create IIN in 2017.

Hunter is now exclusively focused on clearing but will be a senior adviser to the IIN team, bank spokesperson Jessica Francisco said in an emailed statement.

Moy will continue to helm the Blockchain Center of Excellence, where she has led initiatives around digital assets, tokenized payments and digital identity.

Moy started her career in the bank's syndicated loans business and has experience across a range of assets and divisions within the bank.