Jamie Dimon Says JPMorgan Will Get “Involved” With Stablecoins Even As He Questions Their Utility ⋆ ZyCrypto
The post Jamie Dimon Says JPMorgan Will Get “Involved” With Stablecoins Even As He Questions Their Utility ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
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  A longtime vocal critic of Bitcoin and other cryptocurrencies, Jamie Dimon, said the bank he runs will actively explore stablecoin technology to remain competitive, especially as fintech firms continue to create products that challenge legacy banking infrastructure. “We’re going to be involved in both JPMorgan deposit coin and stablecoins to understand it, to be good at it,” the JPMorgan Chase CEO posited during the bank’s Q2 earnings call on Tuesday. “I think they’re real, but I don’t know why you’d want to [use a] stablecoin as opposed to just payment.” JPMorgan Could Have A Stablecoin In The Pipeline The move is not completely unexpected as JPMorgan has reportedly been in talks with other large banks, including Bank of America, Wells Fargo, and Citigroup about a joint stablecoin project to challenge the soaring influence of crypto US dollar-pegged assets. Moreover, it was revealed last month that JPMorgan was planning to pilot a stablecoin-like blockchain-based asset dubbed JPMD, a token that would be launched atop the Coinbase-incubated Layer 2 network Base. Dimon, long known for his skepticism of cryptocurrency, has continued holding the same negative posture even as JPMorgan has profited off of BTC’s soaring use as a financial product, including serving as an authorized participant for BlackRock’s spot Bitcoin ETF. Advertisement
  Dimon also said in May that JPMorgan would allow its clients to buy BTC, but would not hold the crypto asset in custody. Key Stablecoin Bill Progressing In US Dimon’s most recent comments come as the US House of Representatives prepares to consider three consequential crypto bills this week, including the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act — a landmark legislation seeking to create a clear and comprehensive federal regulatory framework for stablecoins. The Senate passed the GENIUS Act in…
Filed under: News - @ July 16, 2025 1:29 am