Jamie Dimon Announces His Bank Will Facilitate Transactions

Clients of JPMorgan Chase will soon have the opportunity to purchase bitcoin, as announced by CEO Jamie Dimon during the bank’s annual Investor Day. This reflects a notable change in the institution’s perspective on the cryptocurrency.

“We will enable you to acquire it,” Dimon informed shareholders, although he emphasized that the bank will not be offering custody services for the digital asset.

Despite this shift, Dimon reiterated his long-standing skepticism regarding bitcoin. He expressed concerns about its association with illegal activities such as human trafficking and money laundering, stating he remains “not a fan” of the cryptocurrency.

Additionally, he questioned the enthusiasm surrounding blockchain technology, suggesting it is overrated. Nevertheless, JPMorgan continues to develop its own blockchain projects in parallel.

For instance, the bank’s blockchain platform, Kinexys, completed a test transaction on a public blockchain, marking a milestone by settling tokenized U.S. Treasuries on Ondo Chain’s testnet.