Brief
- JP Morgan’s CEO Jamie Dimon reaffirmed support for stablecoins, potentially calling them more useful than money, while maintaining his skepticism towards Bitcoin.
- Dimon said that blockchain and stablecoins respond to customer demand, even if they do not line up with the Bank’s personal preferences.
- The comments follow the new JP Morgan agreement with Coinbase, allowing Chase customers to connect the accounts and convert points to crypto.
The CEO of JP Morgan Chase, Jamie Dimon, reaffirmed his belief in Stablecoins on Thursday, but said that he was still not a fan of Bitcoin.
Speak with CNBCDimon billionaire banking boss said that stablecoins could be used in a way that fiduciary currency cannot.
“There are things that Stablecoins may do that your traditional money cannot,” said Dimon, although he stressed that the bank sought to respond more to the demand of customers than the preferences of the bank.
“This is what the customer wants,” he said. “This is not what JP Morgan wants personally.”
Dimon’s comments highlighted his reservations on digital assets.
However, he expressed his belief in the potential usefulness of blockchain technology and his desire to allow the banking giant to participate in space.
JP Morgan has introduced several initiatives focused on cryptocurrency in recent months.
Earlier this week, JP Morgan announcement An agreement with the greatest exchange of American crypto, Coinbase, allowing customers to connect their accounts to the platform and buy digital assets. Dimon also recently congratulated the Stablecoins, a perspective to which he reiterated CNBC.
“I am not against stablecoins,” said Dimon. “I believe in Stablecoin, believing in blockchain, not personally a believer in Bitcoin himself, but you are the customer – I don’t like to tell customers what they can and cannot do with their money.”
Stablecoins are digital tokens operating on blockchains – like Ethereum or Solana – which are fixed to non -volatile active ingredients, generally dollars. With stable value, such cryptocurrencies were previously used by traders to enter and leave digital asset transactions without the need for banks.
But now, banks, large companies, including Meta and Amazon, and even American states are all interested in emitting the tokens, which are supposed to accelerate payments taking advantage of blockchain technology.
This month, US President Donald Trump sign Engineering acts in law, establishing a framework to issue and exchange floors in the United States
The Coinbase agreement of JP Morgan means that Chase customers will be able to link bank accounts directly to their cryptocurrency portfolios of next year.
The bank also said that it will convert “in a transparent and safe manner their points in cryptocurrencies”.
Coinbase listed on the stock market is the largest exchange in the United States and allows users to buy, sell and bet on the future price of digital parts and tokens. He also has an agreement with the American government to take custody of the confiscated crypto.
In the past, Dimon had been prodigal In his comments on Bitcoin, calling him a “pet rock” and precious only to criminals. However, the bank used blockchain technology in its products.
JP Morgan’s actions, listed in the NYSE, fell by just over 1% on Thursday. Coinbase – which is negotiated on the Nasdaq – increased marginally, by less than 1%.
Daily debriefing Bulletin
Start every day with the best reports at the moment, as well as original features, a podcast, videos and more.
