Jamie Dimon Softens Stance on Crypto, Says He’s Now a “Believer” in Stablecoins and Blockchain
Once one of crypto’s most vocal critics, JPMorgan CEO Jamie Dimon now says he sees value in digital assets — especially stablecoins and blockchain technology.
In a CNBC interview on Tuesday, Dimon said he is “a believer in stablecoins” and acknowledged blockchain’s potential, signaling a notable shift in his long-held skepticism.
JPMorgan’s deepening move into the digital asset space, Dimon explained, is largely driven by customer demand. “We’re going to accommodate… It’s what the customer wants, not what JPMorgan wants,” he said, adding that risk comes with every new financial innovation. “There’s never been a new financial product that didn’t entail risk.”
JPMorgan’s Expanding Crypto Push
The bank has been ramping up its crypto efforts. In mid-July, Dimon confirmed JPMorgan is developing a deposit token and broader stablecoin offerings, aiming to both participate in and better understand the space.
This week, JPMorgan also announced a partnership with Coinbase. Starting this fall, Chase credit card users will be able to purchase crypto directly through the Coinbase platform. Customers will also be able to redeem Chase Ultimate Rewards points for the USDC stablecoin.
Meanwhile, the Financial Times reported that JPMorgan is exploring plans to offer loans backed by Bitcoin, with a potential launch as early as 2026.
From Harsh Critic to Cautious Supporter
Dimon’s evolving views mark a significant departure from his earlier comments. In 2017, he called Bitcoin a “fraud” and claimed he would fire any employee trading it. He later compared it to the 17th-century tulip mania and dismissed it as “worse than tulip bulbs.”
Even in 2024, Dimon said Bitcoin “does nothing” and had “no intrinsic value.” As recently as January 2025, he repeated concerns about its use in illegal activity — including money laundering and ransomware — while still acknowledging the promise of blockchain technology.
Now, with JPMorgan stepping deeper into the digital asset world, Dimon appears to be embracing a more pragmatic stance — one shaped less by ideology and more by customer demand and market momentum.
Featured image from: cointelegraph.com