JPMorgan Chase & Co. will allow customers to purchase Bitcoin, Chief Executive Officer Jamie Dimon said on Monday. The $4 trillion asset manager will route trades through external venues and report positions on client statements, but it has no plans to custody the tokens itself.
Dimon reiterated his skepticism of the digital asset, stating, “I am not a fan of Bitcoin,” and arguing that “blockchain doesn’t matter as much as you think.” He framed the new service as a response to client demand, likening it to allowing customers to engage in activities the bank would not necessarily endorse personally.
Beyond digital assets, Dimon cautioned that “geopolitical risk is very, very high,” said stagflation in the United States “cannot be taken off the table,” and warned of “extraordinary complacency” over U.S. debt and trade policies. He added that tariffs have already prompted some multinational clients to move business to local lenders and said current valuations leave him “not a buyer of credit today.”
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
Source: https://thedefiant.io/news/tradfi-and-fintech/jpmorgan-to-let-clients-buy-bitcoin-wont-custody-tokens-dimon-says-1acc03fc