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Dimon Reiterates Support for Stablecoins, Skepticism Toward Bitcoin
JP Morgan Chase CEO Jamie Dimon reaffirmed his belief in stablecoins, praising their potential utility, while maintaining skepticism toward Bitcoin.
In an interview with CNBC, Dimon stated, The are things that stablecoins maybe can do that your traditional cash can’t.
, although emphasizing the bank prioritizes customer demand over its own preferences.
“It’s what the customer wants,” Dimon noted. “It’s not what JP Morgan personally wants.”
These remarks come shortly after JP Morgan announced a significant partnership with Coinbase, the largest crypto exchange in the U.S. This deal will enable Chase customers to link their accounts directly to the platform, starting next year.
The agreement also promises to allow customers to seamlessly and securely convert their points into cryptocurrencies.
Dimon reiterated his positive stance on stablecoins, stating, I’m not against stablecoins. I’m a believer in stablecoin, a believer in blockchain, not personally a believer in Bitcoin itself,
but added, you’re the customer—I don’t like to tell customers what they can and can’t do with their money.
While Dimon has previously been unsparing in his criticism of Bitcoin, calling it a “pet rock” and expressing concerns about its use among criminals, his recent statements signal a greater acceptance of the broader digital asset ecosystem, particularly technologies underpinning stablecoins.
Stablecoins, digital tokens pegged to assets like the US dollar and running on blockchains, offer stability in the often-volatile crypto market. Their regulated status gained momentum earlier this year when President Trump signed into law the GENIUS Act, establishing a framework for their issuance and trading.
The announcement of JP Morgan’s Coinbase deal follows a recent pattern of the bank exploring various aspects of crypto. US-based JP Morgan stock traded down slightly on the news, while Coinbase shares edged up marginally.
