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Jamie Dimon Admits Big Banks Are Behind In The Stablecoin Race - JPMorgan Chase (NYSE:JPM)
NEW YORK, UNITED STATES, JUL 15 – JPMorgan Chase shifts stance by launching JPMD stablecoin amid US stablecoin legislation progress, joining other major banks entering the growing crypto market.
- On February 13, 2025, JPMorgan CEO Jamie Dimon met with Senate Republicans to discuss de-banking and addressed stablecoins on a Tuesday earnings call.
- Dimon acknowledged fintechs are smart and trying to create bank accounts, payment systems, and rewards programs, pressuring banks to engage with stablecoins and tokenized deposits.
- JPMorgan filed a trademark last month for its JPMD stablecoin, piloted on the Base network, and plans to launch a limited stablecoin for clients amid evolving crypto regulations.
- Dimon indicated that the bank is actively considering these issues, while expressing skepticism about the usefulness of stablecoins compared to traditional payment methods and highlighting the importance of addressing interoperability challenges.
- JPMorgan's involvement reflects a strategic shift amid growing fintech competition and regulatory momentum, signaling banks may collaborate on interoperable digital payment solutions to remain competitive.
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26 Articles
Jamie Dimon Admits Big Banks Are Behind In The Stablecoin Race - JPMorgan Chase (NYSE:JPM)
JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon addressed a pressing question on the bank's earnings call Tuesday: Why haven't major banks collaborated to create a joint tokenized deposit solution, similar to the Zelle payments network, to counter the rise of stablecoin providers? What To Know: During a discussion with TD Cowen analyst Steven Alexopoulos, Dimon acknowledged the logic behind tokenized deposits for customers operating within a si…
·New York, United States
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Coverage Details
Total News Sources26
Leaning Left2Leaning Right0Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 29%
C 71%
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