JPMorgan's Transformation for Crypto: It Will Happen!

JPMorgan CEO Jamie Dimon's Striking Statement

JPMorgan Chase (NASDAQ:JPM) CEO Jamie Dimon acknowledged that the cryptocurrencies he has long criticized, as well as blockchain and stablecoins, are now "real." This stands out as a significant tone shift alongside the bank's preparations to allow institutional clients to use Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) as collateral by 2025.

During his speech at the Mega Investment Summit held in Saudi Arabia, Dimon stated, "Crypto is real. Blockchain is real. Stablecoins are real." He also mentioned that JPMorgan is currently operating a deposit coin and is enhancing customer services to increase transaction efficiency using smart contracts.

JPMorgan has launched a pilot program for a payment tool called Deposit Token, which is a blockchain-based instrument representing real deposits. Unlike traditional stablecoins, these tokens are interest-bearing and fully backed by bank liabilities. Additionally, it operates on the Base network owned by Coinbase.

Recently, Dimon emphasized at the Fortune Most Powerful Women Summit in Washington, D.C. that JPMorgan's blockchain is private, giving the bank full authority over permissions and governance, unlike decentralized networks such as Bitcoin or Ethereum. The collateralization program expected to be implemented by the end of 2025 will allow institutional clients to use BTC and ETH as collateral for secure loans. This situation draws attention as one of the most direct integrations of digital assets with traditional finance on Wall Street.