Jamie Dimon, CEO of JP Morgan Chase, left the US Capital on 13 February 2025 after a meeting with Republican members of the Senate Banking, Housing and Urban Affairs Committee on D-Banking.
Tom Williams | CQ-Roll Call, Inc. Getty images
JPMorgan Chase CEO Jamie Dimon It is said that they do not get an appeal for stablecoins, but they too cannot take the risk of staying on the shore.
This is the message that Dimon asked on Tuesday when asked during one Income The conference call about whether his company, the largest and most influential American bank, was searching for payment techniques.
StableCoins, as the name suggests, is a type of cryptocurrency designed to maintain a stable value that is usually judged in a fiat currency like a US dollar. Last month, JP Morgan Announced This will launch a more limited version of a stablecoin that only works for jpmorgan customers; A true stabelcoin will possibly be accepted more universally.
“We are going to join both JP Morgan Deposit Coin and Stabecrim, to understand it, to be good,” Dimon said. “I think they are real, but I don’t know why you want [use a] Stablecoin only contrary to payment. ,
Dimon, 69, is one of the most vocal Opponents Some cryptocurrency like bitcoin. But his bank is a jugger in the Global Payments Industry, which helps to move around $ 10 trillion per day, and hence it makes sense that they will detect Stabelcoin at a time when the regulator when the regulator framework Has opened to technology.
Dimon said on Tuesday that failed to do so can take the Fintech players to the ground, who want to re -create the elements of the regulated financial ecosystem.
“You know, these people are very smart,” Dimon said about his fintech contestants. “They are trying to find out a way to create bank accounts to go to payment systems and prize programs, and we must be cognitive about it. And is to include how to be cognitive.”
Citygroup, Bofa Coins?
StableCoins can offer potentially sharp and cheap forms of payment on traditional banking rails, including Ach and Swift, which are decades -old systems that usually take day to settle.
City group CEO Jane Fraser On Tuesday, the bank said that the bank was “looking at the release of a city stabelcoin” and they were examining several ways to play in space. He said that the biggest opportunity is around the token deposits and in detention for crypto assets, he said.
Bank of America CEO Brian Mionihan is also Said Their firm will join Stablecoins.
The jointly owned initial warnings can be a way for traditional banks to collaborate through services. This would be the same as they banded the Zele together to offer the Zele for an immediate colleague-to-peer payment. Papail And block’S Cash App.
Asked about a possible cooperation between banks on Tuesday, Dimon refused to give a specific answer.
“This is a great question, and we will leave it as a question,” Dimon said. “You can assume that we are thinking about that.”
