JPMorgan CEO Jamie Dimon signaled a notable shift in his views on digital assets during a CNBC interview on Tuesday, saying he now believes in the utility of stablecoins and sees value in blockchain technology. While Dimon stopped short of endorsing crypto like Bitcoin, his comments reflect a more accommodating stance shaped by growing client demand. “It’s what the customer wants, not what JPMorgan wants,” Dimon stated, emphasizing that the bank’s crypto initiatives are being driven by market demand rather than internal conviction. He acknowledged that all financial innovations carry risk, saying, “There’s never been a new financial product that didn’t entail risk.” JPMorgan has already begun laying the groundwork for broader participation in the digital asset space. In July, Dimon confirmed plans for the bank to experiment with its own deposit coin and expand into stablecoin issuance—moves aimed at gaining a deeper understanding of the ecosystem and becoming proficient in its operation. From Critic to Cautious Participant Dimon’s latest remarks mark a significant departure from his earlier, more hostile stance on the industry. In 2017, he infamously labeled Bitcoin a “fraud,” likening it to the Dutch tulip mania of the 1600s and even threatening to fire JPMorgan traders who dabbled in crypto. By 2018, while he remained critical of Bitcoin and its use in illicit finance , he conceded that blockchain technology might hold legitimate promise. Even as recently as January 2024, at the World Economic Forum, Dimon dismissed Bitcoin as having “no intrinsic value.” In early 2025, he again criticized Bitcoin, linking it to criminal activities such as ransomware and money laundering, though he continued to voice support for the underlying blockchain. This nuanced evolution in perspective appears to mirror the broader trajectory of traditional finance, where institutions initially wary of crypto are gradually embracing certain elements under regulatory scrutiny and customer pressure. JPMorgan Expands Crypto Footprint with Coinbase Deal Reinforcing this strategic pivot, JPMorgan announced on Wednesday a partnership with Coinbase, one of the largest crypto exchanges in the U.S. Starting this fall, Chase credit card holders will be able to purchase digital assets directly via Coinbase, while also gaining the option to redeem their Chase Ultimate Rewards points for USDC, a leading stablecoin. Additionally, according to a report by the Financial Times earlier this month, the banking giant is also exploring Bitcoin-backed lending products . If greenlit, this could position JPMorgan as one of the first major U.S. banks to accept Bitcoin as collateral for loans, with a rollout possibly coming as soon as 2026. Dimon’s change in tone may still surprise crypto purists, but the bank’s accelerating involvement in digital finance suggests that a full embrace of select crypto services is no longer a matter of if—but when. The post Jamie Dimon Softens Crypto Stance, Backs Stablecoins and Blockchain appeared first on TheCoinrise.com .
