JPMorgan Explores Crypto Trading for Institutional Clients: Report
JPMorgan Chase is exploring the launch of cryptocurrency trading services for institutional clients, potentially offering spot and derivatives products through its markets division. This initiative responds to growing client interest and recent pro-crypto regulatory changes in the US, including the passage of the GENIUS Act supporting stablecoin payments. These plans reflect a notable shift, given CEO Jamie Dimon's previous skepticism toward cryptocurrencies, though he has recently expressed support for stablecoins and blockchain technology. The move follows criticism from industry figures such as Strike CEO Jack Mallers, who alleged account closures by JPMorgan, a claim Dimon has refuted on grounds of religious or political bias. In the broader banking sector, other institutions including France’s BPCE and BNY Mellon are also expanding digital asset services, with BNY Mellon providing reserves for stablecoin issuers as required by new regulations.
