The move comes as fintech firms increasingly encroach on traditional banking services, pushing legacy institutions to adapt.
Rather than watching from the sidelines, JPMorgan plans to engage directly with blockchain-based infrastructure to maintain relevance. Dimon described the initiative as a response to competitors building systems that mirror banking features like payment networks and rewards programs.
Citigroup and Bank of America are also exploring similar paths. Citi is considering launching its own stablecoin and sees near-term benefits in digital asset custody and tokenized deposits. Meanwhile, regulatory momentum in Congress—especially around the GENIUS Act—is creating a clearer path for banks to enter the stablecoin market.
While Dimon remains critical of Bitcoin, he views stablecoins as a practical extension of banking. With the potential for cross-chain functionality and broader settlement options, JPMorgan aims to stay ahead as financial rails continue to modernize.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/jpmorgan-eyes-stablecoin-expansion-to-defend-market-share/