JPMorgan aims to grow its market with crypto transactions.

JPMorgan Prepares to Enter a New Era with Crypto

JPMorgan plans to expand its activities in the field of digital assets and blockchain technology. The bank is reportedly aiming to increase its competitiveness in the sector by offering crypto transactions to its customers.

Cryptocurrency Custody Not On the Agenda Yet

The bank is not considering directly storing crypto assets, following in the footsteps of competitors like Citibank. Scott Lucas, head of global markets and digital assets at JPMorgan, stated in an interview with CNBC, "Custody is not on the agenda in the short term." He noted that under Jamie Dimon's leadership, the bank aims to enter the trading space in this area during the investor day.

JPMorgan’s Strategy

Lucas expressed that the bank plans to offer crypto trading services while exploring the right custody services. "I think our approach to this issue largely embraces an 'and' approach; we want to strike a balance between the existing market and new opportunities. These opportunities are not exclusive to one or the other," he said.

Industry Partnerships

By 2025, JPMorgan has begun to adopt a comprehensive approach to crypto and blockchain. Partnerships with leaders in the sector, such as Coinbase, are among the significant steps supporting the bank's new strategy.

Change in Jamie Dimon's Attitude

CEO Jamie Dimon's change in perspective, having previously held a critical view of crypto assets, is allowing JPMorgan to take bolder steps in this area. In August, Dimon stated that he "believes in stablecoins" and emphasized the importance of blockchain technology.

This approach to cryptocurrencies and blockchain technology highlights JPMorgan's intention to accelerate its transformation in the financial sector.