Purchasers of JPMorgan Chase (JPM) will quickly have the choice to purchase bitcoin
, in response to CEO Jamie Dimon, who spoke on the financial institution’s annual Investor Day on Monday, signaling a shift in how the agency approaches the asset.
“We’re going to will let you purchase it,” Dimon instructed shareholders, although he added the financial institution has no plans to carry the asset in custody.
Dimon, lengthy recognized for his skepticism of cryptocurrency, doubled down in his closing remarks, saying he’s nonetheless “not a fan” of bitcoin, primarily due to its use for unlawful actions, together with intercourse trafficking and cash laundering
He additionally pushed again on the trade’s hype round blockchain know-how, arguing it is much less essential than it is made out to be — at the same time as JPMorgan continues constructing within the house.
“We’ve got been speaking about blockchain for 12 to fifteen years,” he mentioned. “We spend an excessive amount of on it. It would not matter as a lot as you all assume.”
The financial institution’s personal blockchain platform, Kinexys, lately ran a take a look at transaction on a public blockchain for the primary time, settling tokenized U.S. Treasuries on Ondo Chain’s testnet.