In short
- JP Morgan CEO Jamie Dimon confirmed support for Stablecoins and called them more potentially more useful than cash, while retaining his skepticism towards Bitcoin.
- Dimon said that Blockchain and Stablecoins meet the customer’s demand, even if they do not match the personal preferences of the bank.
- The comments follow the new deal of JP Morgan with Coinbase, so that Chase customers can link accounts and convert points in crypto.
JP Morgan Chase CEO Jamie Dimon confirmed his belief in Stablecoins on Thursday, but said he was still not a fan of Bitcoin.
Creeks with CNBCBillionary bank boss Dimon said That stablecoins can be used in ways that Fiat -Valuta cannot.
“There are things that Stablecoins may be able to do that your traditional money cannot,” said Dimon, although he emphasized that the bank wanted to tackle the customer’s question more than the bank’s preferences.
“It’s what the customer wants,” he said. “It’s not what JP Morgan wants personally.”
Dimon’s comments underline his reservations about digital assets.
Yet he expressed his belief in the potential usefulness of blockchain technology and his willingness to allow the bank giant to participate in space.
JP Morgan has introduced several cryptocurrency-oriented initiatives in recent months.
Earlier this week, JP Morgan announced A deal with the biggest crypto exchange of America, Coinbase, so that customers can link their accounts to the platform and buy digital assets. Dimon recently also praised Stablecoins, a perspective to which he repeated CNBC.
“I’m not against Stablecoins,” said Dimon. “I am a proponent of Stablecoin, a believer in blockchain, not personally a believer in Bitcoin himself, but you are the customer – I don’t want to tell customers what they can and cannot do with their money.”
Stablecoins are digital tokens that run on block chains-such as Ethereum or Solana Die are linked to non-fighter assets, usually dollars. With a stable value, such cryptocurrencies were previously used by traders to enter and leave digital assets transactions without banks.
But now, banks, large companies, including Meta and Amazon, and even American states are all interested in publishing the tokens, which are supposed to accelerate payments that use blockchain technology.
This month, US President Donald Trump signed The genius law in the law, setting up a framework for publishing and acting stabilecoins in the US
JP Morgan’s Coinbase -Deal means that from next year Chase customers can directly link bank accounts to their cryptocurrency portfolios.
The bank also said that it will “seamless and safe convert their points into cryptocurrencies.”
Publicly raised Coinbase is the biggest exchange in the US and enables users to buy, sell and bet the future price of digital coins and tokens. It also has a deal with the US government to take custody over confiscated crypto.
Dimon had been in the past harmless In his comments about Bitcoin it mentions a “pet” and valuable only for criminals. However, the bank used Blockchain technology in its products.
The shares of NYSE-Genten JP Morgan fell slightly more than 1%on Thursday. Coinbase – which acts on the Nasdaq – was marginal, with less than 1%.
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