Jamie Dimon Says JPMorgan to Get More Involved With Stablecoins
Main Idea
JPMorgan CEO Jamie Dimon acknowledges the legitimacy of stablecoins and reveals the bank's plans to increase involvement with them, despite his historical skepticism towards cryptocurrencies.
Key Points
1. Jamie Dimon stated during JPMorgan's Q2 earnings call that stablecoins are 'real' and the bank plans to engage more with them.
2. JPMorgan already processes $2 billion daily in transactions using its JPM Coin and recently piloted a deposit token, JPMD, on Coinbase's Base network.
3. Dimon remains skeptical about the utility of stablecoins compared to traditional payment methods, questioning their necessity.
4. The article mentions the GENIUS Act and potential U.S. regulatory developments affecting stablecoins and crypto market structure.
5. JPMorgan's involvement in stablecoins includes cross-border payments, particularly in emerging markets, highlighting their practical applications.
Description
Jamie Dimon, CEO of global banking giant JPMorgan (JPM), said the bank plans to get more involved in stablecoins, even as he questioned their practical utility compared to traditional payments. "We’re going to be involved in both JPMorgan Depositcoin and stablecoins to understand it, to be good at it," Dimon said during the bank’s Tuesday earnings call. "I think they’re real, but I don’t know why you’d want a stablecoin as opposed to just payment." His comments came as stablecoins, a subset of c...
Latest News
- Crypto Hackers Capitalize on ETH Surge, Offloading $72M This Week2025-08-15 14:28:24
- Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital2025-08-15 13:40:10
- BONK Holds Key Support After Heavy Selling Hits Solana Meme Token2025-08-15 13:35:33
- CoinDesk 20 Performance Update: Avalanche (AVAX) Gains 3.4% as Index Trades Higher2025-08-15 13:32:14
- Circle to Offer 10 Million Class A Shares at $130 Each2025-08-15 10:00:47