JP Morgan will soon let clients buy bitcoin. As for blockchain, the tehnology behind bitcoin, the bank CEO says it’s less important than it’s made out to be.
Clients of JPMorgan Chase will soon have the option to buy bitcoin, according to CEO Jamie Dimon, who spoke at the bank’s annual Investor Day, signaling a shift in how the firm approaches the asset, Coindesk has learned.
„We are going to allow you to buy it,” Dimon told shareholders, though he added the bank has no plans to hold the asset in custody.
Dimon, long known for his skpticism of cryptocurrency, doubled down in his closing remarks, saying he’s still „not a fan” of bitcoin, mainly because of its use for illegal activities, including sex trafficking and money laundering.
He also pushed back on the industry’s hpe around blockchain technology, arguing it’s less important than it’s made out to be – even as JPMorgan continues building in the space.
„We have been talking about blockchain for 12 to 15 years,” he said. „We spend too much on it. It doesn’t matter as much as you all think.”
The bank’s own blockchain platform, Kinexys, recently ran a test transaction on a public blockchain for the first time, settling tokenized U.S. Treasuries on Ondo Chain’s testnet.
Dariusz Mazurkiewicz – CEO at BLIK Polish Payment Standard
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