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Jamie Dimon, CEO of JPMorgan Chase, leaves the US Capitol after meeting with members of national banking, housing and city affairs on de-banking on February 13, 2025.
Tom Williams | CQ-Roll Call, Inc. | Gets the image
Jpmorgan chase CEO Jamie Dimon He says he does not get the stables but also cannot afford to stay away.
This is the message that the smoke gave on Tuesday when asked during income The conference is a call about whether it is engaged in its company, the largest and most influential US banks, studies payment technology.
As the name implies, stable coins are the type of cryptocurrency designed to maintain a stable value, which is usually tied to a natural currency as a US dollar. Last month Jpmorgan announced It will run a more limited version of Stablecoin, which only works for JPMorgan customers; The true stable stable is supposed to be more conventional.
“We will participate both in the JPMORGAN DEPOIN coins and the stable to understand it to be good in this,” said the smoke. “I think they are real, but I don’t know why you would like (used a) stable unlike simple payment.”
Dimon, 69, – one of the voice opponents Certain cryptocurrencies like bitcoin. But its bank is a jungering in the global payments industry, helping to move nearly $ 10 trillion daily, and so it makes sense to study the stabbits at a time when regulating activity frame For technology opened.
Failed to do so to cede Fintech players seeking to recreate elements of a regulated financial ecosystem, Dimon said on Tuesday.
“You know, these guys are very smart,” Dimon said of his Fintech competitors. “They try to find out the way to create bank accounts, enter the payment systems and reward programs, and we must be aware of this. And the way to know is to participate.”
Citigroup, Bofa Coins?
Stablecoins can offer a potentially fastest and cheaper payment form over traditional banking rails including ACH and Swift, which have been decades that usually require days.
Citigroup The executives said on Tuesday that the bank “looked at Citi Stablecoin” among several ways to play in space. The greatest opportunity is that they note that in deposits and in providing custody of crypto -actives.
Bank of America CEO Brian Mainikhan also – Note His firm interferes with stable.
One way for traditional banks to cooperate through joint early warning services. It would be like they united to offer zelle for instant payments-one as a way to protect the turf Enhancement and Good “S app in cash.
Asked on Tuesday about possible cooperation between banks, Dimon refused to give a specific answer.
“This is a great question, and we will leave it as a question,” said Dimon. “You can assume what we think about it all.”
With reporting from Jesse Pound CNBC
