- Jamie Dimon says JPMorgan is developing a stablecoin, potentially with other banks.
- The bank already operates a blockchain-based deposit coin that supports smart contracts.
- Dimon emphasizes innovation over personal opinion, pushing JPMorgan to stay ahead of fintech trends.
Jamie Dimon, CEO of JPMorgan Chase, revealed that the bank is actively exploring the development of a stablecoin, potentially in collaboration with other major financial institutions. Speaking at the America Business Forum on Thursday, Dimon admitted he’s uncertain how the stablecoin market will evolve — but emphasized that JPMorgan intends to stay directly involved.
“Stablecoin was one where I don’t know how it’s going to play out,” Dimon said. “What do we do about it? We’re involved. We’re building a stablecoin. We may build it with other banks.”
JPMorgan’s Deposit Coin and Blockchain Ambitions
Dimon noted that JPMorgan already operates a blockchain-based deposit coin, which allows for interest payments and supports smart contract applications. This internal system, used primarily for institutional clients, enables instant settlement across the bank’s global network.
“Any of these tools that you want to use for smart contracts, we are simply going to do,” Dimon explained. “I don’t know how it’s going to sort out, but I’d rather be playing, which keeps us smart, than acting like I know the answer to it.”
The comment signals a notable shift from Dimon’s previously skeptical stance on cryptocurrencies. While he’s long criticized Bitcoin as a speculative asset, JPMorgan has continued to invest in blockchain infrastructure — balancing traditional finance with new digital rails.
Experimentation Over Conviction
Dimon clarified that his personal opinions don’t dictate JPMorgan’s approach to emerging technology. Across its business divisions — from consumer banking to global investment — AI, blockchain, and digital assets are now standard agenda items.
“I always say, are you doing everything you need to do to win in the future, period?” Dimon said. “And I don’t care what the budget says.”
He added that innovation should not depend on leadership sentiment: “Sometimes, regardless of what I think about it, I want you to be dabbling in it because being smart is more important than saying Jamie does or doesn’t like it.”
What Comes Next
While JPMorgan’s JPM Coin is already in limited institutional use, a collaborative stablecoin backed by multiple banks could reshape the financial sector’s approach to on-chain settlement. Such a product could serve as a regulated alternative to private stablecoins, bridging traditional banking infrastructure with decentralized finance tools.
As regulatory clarity continues to develop in the U.S. and Europe, JPMorgan’s willingness to co-develop a stablecoin signals that mainstream finance may soon converge with blockchain in more tangible, regulated ways.
