JPMorgan has re-confirmed it’ll enable purchasers to commerce Bitcoin and different cryptocurrencies.
Whereas the financial institution is not going to instantly supply custody companies, it’s increasing its blockchain initiatives and exploring how crypto matches into its broader markets technique.
Scott Lucas, JPMorgan’s international head of markets digital property, outlined the financial institution’s method in a CNBC interview, emphasizing an “and” technique that balances present monetary infrastructure with rising blockchain alternatives.
On buying and selling crypto, Lucas stated that, “Jamie [Dimon] was fairly clear throughout investor day that we have been going to be concerned within the buying and selling of that, however custody shouldn’t be on the desk for the time being,”
The financial institution has been experimenting with deposit tokens and stablecoins, instruments that allow cash-like digital property on distributed ledgers.
“Naturally, we want custodians. So we’re exploring what the appropriate custodians for us for the enterprise footprint of,” Lucas stated.
Lucas highlighted JPMorgan’s deposit token, JPMD, which is at the moment a prototype within the U.S., as a platform for potential shopper companies and money administration options.
Stablecoins stay a spotlight as properly, although Lucas famous that any future issuance would doubtless be led by the financial institution’s funds enterprise, moderately than its markets division.
As an alternative, JPMorgan’s buying and selling purchasers can use stablecoins to execute transactions and discover new monetary workflows, reflecting the financial institution’s curiosity in bridging conventional markets with blockchain-based infrastructure.
Lucas additionally acknowledged the rising function of public blockchains in capital markets, noting that whereas JPMorgan maintains proprietary inner platforms, it expects an growing share of market exercise to shift towards public networks.
Earlier right now, JPMorgan additionally introduced a $1.5 trillion, decade-long “Safety and Resiliency Initiative” to bolster key U.S. industries, together with power, manufacturing, and protection.
The financial institution stated it will make investments as much as $10 billion in fairness and enterprise capital to help home firms driving innovation and strategic manufacturing.
JPMorgan: Bitcoin is undervalued
Earlier this month, JPMorgan analysis urged Bitcoin could also be undervalued in comparison with gold, with potential upside if the “debasement commerce” continues. Analysts estimated Bitcoin may attain $165,000, about 450% above present ranges, primarily based on volatility-adjusted comparisons with gold.
They famous that Bitcoin is more and more enticing relative to gold because the bitcoin-to-gold volatility ratio falls under 2.0.
Earlier this yr, JPMorgan Chase additionally was stated to contemplate a coverage to lend instantly in opposition to purchasers’ Bitcoin and crypto holdings, marking a possible first for the financial institution in accepting digital property — not ETFs — as mortgage collateral.
Earlier in 2025, JPMorgan allowed purchasers to make use of Bitcoin ETFs as collateral and commenced together with crypto holdings in web value evaluations alongside conventional property.
