JPMorgan CEO Jamie Dimon recently expressed in an interview that he believes in the development prospects of stablecoins and blockchain technology, although he remains cautious about Bitcoin. He emphasized that JPMorgan will participate in accordance with customer demand.
Dimon stated during an interview on CNBC:
"I believe in stablecoins, I believe in blockchain, but I personally do not believe in Bitcoin itself. However, you are a customer, and I do not like to tell customers how to use their money or how not to use it. This is a completely different issue for us. Therefore, we will adapt to these developments."
Dimon stated that he does not oppose stablecoins and compared their nature to mutual funds. However, he also pointed out that the current regulatory framework for stablecoins is still incomplete, particularly in key areas such as anti-money laundering (AML), Bank Secrecy Act (BSA), know your customer (KYC), and information disclosure.
At the same time, Dimon acknowledged that stablecoins have functionalities that traditional cash cannot achieve, such as programmability, enabling uses like scheduled payments and automatic fund distribution.
Dimon stated:
"We will participate and will use these tools. Again, as long as customers want to use them, no matter how they use them, and if used properly, we will invest. This is in line with customer demand and not a subjective decision driven by JPMorgan."
During the program, the host mentioned several of JPMorgan's recent initiatives in blockchain and cryptocurrency infrastructure, including collaboration with the cryptocurrency exchange Coinbase. This partnership allows Chase customers to use credit cards to top up their Coinbase accounts and link their bank accounts to the exchange accounts. Additionally, the reward points from Chase credit cards can be redeemed for the stablecoin USDC issued by Circle. On the other hand, JPMorgan has also launched its own dollar deposit token JPMD, further deepening its participation in the digital finance sector.
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