The post JPMorgan to test stablecoin services alongside proprietary deposit token in bid to speed settlements appeared on BitcoinEthereumNews.com.

JPMorgan CEO Jamie Dimon said on a July 15 earnings call that the bank will launch products tied to stablecoins and its deposit coin as part of a broader payments strategy.  As CNBC reported, Dimon said the firm “will be involved” in both formats to master the technology and protect market share. Banks refine stablecoin playbooks Dimon framed the decision as defensive. He said fintech companies already design products that mimic checking accounts, payments networks, and loyalty platforms. Furthermore, JPMorgan’s CEO added that the firm must engage rather than watch. Citigroup executives said during their call on the same day that the bank is “looking at the issuance of a Citi stablecoin” and sees immediate utility in tokenized deposits and digital‑asset custody.  Bank of America chief Brian Moynihan has signaled similar intentions. Executives floated a joint effort through Early Warning Services, the consortium behind Zelle, although Dimon declined to confirm any collaboration plans, saying only that the bank weighs “all that.” Dimon’s remarks echo BlackRock CEO Larry Fink, who told investors that the asset manager sees a “great untapped opportunity” in stablecoins for clients seeking digital access to Treasuries and other cash instruments.  Fink cited the GENIUS Act, a stablecoin-focused bill that aims to establish a federal framework for stablecoin issuance, adding that it could accelerate the adoption of stablecoins. Pragmatism replaces skepticism Dimon remains critical of Bitcoin but views stablecoins as practical extensions of existing payment infrastructure. A retail‑facing stablecoin would broaden settlement options to a broader customer base and, once regulations permit, operate across multiple blockchains. Regulatory clarity motivates the shift. The House of Representatives plans a vote on the GENIUS Act later this week, and senators have signaled support for rules that slot stablecoin issuers under bank supervision.  Furthermore, Dimon acknowledged that failing to act could allow non‑banks to capture cross‑border…

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Filed under: News - @ July 15, 2025 7:29 pm