JPMorgan CEO Jamie Dimon shifts stance on crypto, now a “believer in stablecoins” and blockchain technology due to customer demand. The bank plans to issue stablecoins and participate in the crypto space to understand and excel in it.

Dimon’s journey with crypto began with harsh criticism in 2017, calling Bitcoin a “fraud” and worse than tulip bulbs. Over the years, he acknowledged blockchain’s value but remained skeptical of Bitcoin due to illicit activities.

JPMorgan partners with Coinbase to offer customers direct access to digital assets through Chase credit cards and USDC redemptions. The bank is also exploring offering crypto-backed loans using Bitcoin as collateral, potentially launching in 2026.

Read more at Cointelegraph: Jamie Dimon backs stablecoins after years of crypto criticism