Jamie Dimon Says JPMorgan Will Get “Involved” With Stablecoins Even As He Questions Their Utility
2025-07-15 20:19:52
Main Idea
JPMorgan CEO Jamie Dimon announced the bank's plans to explore stablecoin technology, despite his past criticism of cryptocurrencies, while a key stablecoin bill progresses in the U.S.
Key Points
1. Jamie Dimon stated JPMorgan will explore stablecoin technology to remain competitive, though he questioned its necessity over traditional payments.
2. JPMorgan has reportedly discussed launching a stablecoin-like asset, JPMD, on the Base blockchain network with other major banks.
3. Dimon confirmed JPMorgan would allow clients to buy Bitcoin but would not custody it.
4. The U.S. Senate passed the GENIUS Act in June, aiming to regulate stablecoins, with hopes for House approval and presidential signing.
5. The stablecoin market is valued at $258 billion, dominated by Tether's USDT ($159.8B) and Circle's USDC ($62B).
Description
A longtime vocal critic of Bitcoin and other cryptocurrencies, Jamie Dimon, said the bank he runs will actively explore stablecoin technology.
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