JP Morgan Doubles Down on Stablecoins—Even as CEO Jamie Dimon Voices Skepticism

Wall Street's love-hate affair with crypto takes another twist.

JPMorgan Chase is ramping up its stablecoin infrastructure—despite CEO Jamie Dimon's infamous Bitcoin bashing. The banking giant's blockchain division, Onyx, just unveiled cross-border payment upgrades for its JPM Coin system. Because nothing says 'I don’t believe in crypto' like building a better mousetrap for it.

The irony? Dimon told Congress last year that he’d 'close down crypto tomorrow' if he could. Meanwhile, his engineers are working overtime to make JPMorgan the most crypto-compatible too-big-to-fail bank. Classic finance: talk trash, stack cash.

This comes as stablecoins hit $150B in market cap—proving even Wall Street dinosaurs can’t ignore the efficiency gains. The real question? Whether Dimon’s public skepticism is genuine… or just a smokescreen while JPMorgan quietly corners the institutional crypto market.