Stablecoin support from Jamie Dimon while he avoids Bitcoin

• Jamie Dimon said JPMorgan will have a stablecoin and cited customer demand over internal preference.
• Kinexys (formerly Onyx) piloted JPMD in June 2025 after first public blockchain settlement in May.
• Dimon kept distance from Bitcoin while affirming practical use of blockchain for settlements.

Jamie Dimon recent comments show a clear, practical shift in how he discusses digital assets. In an interview with CNBC in late July 2025, the CEO of JPMorgan Chase said he is “a believer in stablecoins, believer in blockchain, not personally, a believer in Bitcoin itself.” He added that the bank “will have” a stablecoin tied to assets like the U.S. dollar, and emphasized that the move is driven by customer demand, not the bank’s preference.

Jamie Dimon on stablecoins and customer demand

Jamie Dimon stated that stablecoins may do things traditional cash cannot, and that JPMorgan’s involvement is a response to what customers want. He made a distinction between the institution’s neutral position and the practical need to offer tools clients request. Saying “it’s what the customer wants. It’s not what JPMorgan personally wants,” places the decision in the realm of service adaptation rather than endorsement.

Jamie Dimon and the difference between blockchain and Bitcoin

Jamie Dimon has maintained a consistent separation between the use of blockchain technology and his view of Bitcoin as a speculative asset. Earlier, he had used strong language about Bitcoin—calling it “hyped-up fraud,” likening it to a “pet rock,” and warning that employees trading it were making poor choices. Yet he has always acknowledged that blockchain, the distributed ledger technology underneath, has specific uses for moving information, settling repo transactions, and transferring funds. His most recent remarks keep that distinction: stablecoins and blockchain are tools to deploy, while Bitcoin remains outside his personal support.

Jamie Dimon and JPMorgan’s internal steps on blockchain and tokenized deposits

JPMorgan Chase has been evolving its internal infrastructure around ledger technology for years. The division originally known as Onyx was rebranded to Kinexys and has moved from closed, internal deployments toward experiments involving public blockchains. In May 2025, the bank settled its first transaction on a public chain. In June 2025, Kinexys began piloting JPMD, a tokenized deposit described as a stablecoin-like asset that represents a dollar of deposits held at JPMorgan Chase. These steps reflect a gradual expansion from internal ledger uses to externally visible, blockchain-native representations of traditional deposits.

Jamie Dimon’s remarks in the context of regulatory discussion

The comments came while the U.S. legislative environment around stablecoins was still unsettled. The so-called GENIUS Act, discussed in policy circles as a proposed framework for stablecoin issuance, had not completed final passage as of mid-2025. Jamie Dimon’s public engagement with stablecoins, framed as gaining operational experience, positions the bank to act if clearer rules emerge. He presented involvement as a way to be prepared: to understand the mechanics and have infrastructure in place so the bank can serve clients if regulatory clarity arrives.

Jamie Dimon and JPMorgan’s market positioning

Following the public remarks, JPMorgan’s work on JPMD and its public blockchain settlement are paired with customer-facing integrations that connect traditional banking with crypto-adjacent access. The bank has layered these infrastructure efforts with partnerships that allow its customers to interact with digital asset services through familiar interfaces. Jamie Dimon’s language—about responding to customer needs—aligns with the bank’s visible steps: building technical capability, maintaining awareness of policy shifts, and offering access paths without presenting this as a wholesale embrace of all parts of the crypto ecosystem.

Jamie Dimon’s historical rhetoric compared to current stance

Looking back, the contrast is in tone and focus. In 2017 and the years after, Jamie Dimon used sharp language dismissing Bitcoin itself while still treating blockchain as a useful internal tool. The current position does not reverse his skepticism about Bitcoin but updates how stablecoins and ledger-based tokens fit into JPMorgan’s service offering. He separates the personal view on Bitcoin from institutional preparedness on stablecoin infrastructure and blockchain-based settlement.

Implications of Jamie Dimon’s position for broader banking practice

When the head of the largest U.S. bank speaks about stablecoins in measured terms—acknowledging their potential utility while keeping distance from speculative assets—it affects how other institutions and policy actors view these instruments. The combination of a tokenized deposit representing traditional dollars, experiments with public blockchain settlement, and customer access via integrated channels creates a practical bridge between existing banking systems and programmable, ledger-based money. That bridge is being constructed with deliberate steps rather than broad declarations.

Conclusion

Jamie Dimon’s recent statements reflect a practical adjustment: accepting stablecoins and blockchain as client tools while remaining cautious about Bitcoin itself. JPMorgan’s internal pilots, public blockchain activity, and customer integrations are consistent with that stance. With regulatory clarity still pending, the bank’s experience with stablecoin-like tokens and its infrastructure position it to respond to demand without committing to a full endorsement of all crypto assets.

Disclaimer

The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.

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