JPMorgan plans to offer cryptocurrency trading services but will not custody crypto directly. The bank’s global head of markets and digital assets, Scott Lucas, stated that custodying is not on the near-term horizon. JPMorgan is exploring potential custodians while emphasizing its interest in offering crypto trading services.

JPMorgan is adopting an “and” approach to the crypto sector, aiming to capitalize on various opportunities rather than focusing on one aspect. The bank has started to expand its involvement in crypto and blockchain, including partnerships with major industry players like Coinbase. This shift is partly attributed to a change in tone from CEO Jamie Dimon, who has become more positive about stablecoins and blockchain technology.

JPMorgan is enthusiastic about its deposit token JPMD, currently in a pilot phase on Base. The bank sees potential in offering different services for institutional clients and is monitoring the stablecoin market. Scott Lucas mentioned that JPMorgan is still developing its strategy in this emerging space. Additionally, the bank does not foresee one dominant blockchain network but sees multiple opportunities to explore in the near future.

Read more at cointelegraph.com: JPMorgan To Offer Crypto Trading But Won’t Custody Assets Directly