Dimon Called Crypto A 'Ponzi Scheme'—Now JPMorgan Is Building JPMD To Trade It

Benzinga

JPMorgan Chase is deepening its push into digital assets with a new trademark filing for a platform called JPMD, according to Benzinga. The platform will offer services such as trading, exchanging, transferring, and issuing digital assets. The move marks a continued shift in the bank's crypto strategy, despite CEO Jamie Dimon’s past criticism of cryptocurrencies. Dimon recently confirmedthat  JPMorgan now allows client exposure to Bitcoin and accepts Bitcoin ETFs as collateral for some loans. The bank is also exploring a regulated stablecoin and already processes over $2 billion daily on its private blockchain network, Kynexis.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02JP Morgan Chase is deepening its push into digital assets with a new trademark filing

00:06for a platform called JPMD, according to Benzinga.

00:09The platform will offer services such as trading, exchanging, transferring, and issuing digital

00:14assets.

00:15Move marks a continued shift to the bank's crypto strategy, despite CEO Jamie Dimon's

00:19past criticism of cryptocurrencies.

00:21Dimon recently confirmed that JP Morgan now allows client exposure to Bitcoin and accepts

00:26Bitcoin ETFs as collateral for some loans.

00:28Pink is also exploring a regulated stablecoin that already processes over $2 billion daily

00:33on its private blockchain network, Connexus.

00:36For all things money, visit Benzinga.com.

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