Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bitcoin and Cryptocurrency Hater JPMorgan CEO Jamie Dimon Backtracked Again: “I Still Don’t Fully Understand It, But…”

Bitcoin and Cryptocurrency Hater JPMorgan CEO Jamie Dimon Backtracked Again: “I Still Don’t Fully Understand It, But…”

CryptoNewsNetCryptoNewsNet2025/07/15 19:50
By:en.bitcoinsistemi.com

JPMorgan Chase CEO Jamie Dimon says he doesn't quite understand the appeal of stablecoins, but he also says he can't afford to sit on the sidelines.

This message from Dimon attracted attention while answering questions about stablecoin technology at the balance sheet meeting held today.

Stablecoins, as their name suggests, are cryptocurrencies typically pegged to fiat currencies like the US dollar, aiming for stability in value. Last month, JPMorgan announced the development of a limited stablecoin solution designed exclusively for its own clients. However, a more general stablecoin is expected to appeal to a much broader user base.

“As JPMorgan, we will be involved in both our own deposit coin and stablecoins. We want to understand this space and become proficient in it,” Dimon said. “Stablecoins are real. However, I still don't fully understand why you would want to use a stablecoin instead of making a payment directly.”

Dimon, 69, is known for his criticism of cryptocurrencies, particularly Bitcoin. However, JPMorgan's massive presence in the sector, with a daily global payment volume of approximately $10 trillion, means the company cannot afford to neglect emerging payment technologies.

Dimon stated that fintech companies trying to create alternatives to the traditional banking system pose a threat, saying, “These guys are very smart. They want to create bank accounts, access payment systems, and offer rewards programs. We need to be aware of this. The way to do this is to be active in this area.”

Citigroup executives also stated in a statement today that they are exploring the possibility of issuing stablecoins and that they see opportunities, particularly in areas such as tokenized deposits and the storage of crypto assets.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

区块链骑士2025/11/28 08:23
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

What are the privacy messaging apps Session and SimpleX donated by Vitalik?

Why did Vitalik take action? From content encryption to metadata privacy.

ForesightNews 速递2025/11/28 08:23
What are the privacy messaging apps Session and SimpleX donated by Vitalik?

The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun

The attacker incurred a loss of 3 million in a "suicidal" attack, but may have achieved breakeven through external hedging. This appears more like a low-cost "stress test" targeting the protocol's defensive capabilities.

ForesightNews 速递2025/11/28 08:23
The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun