JPMorgan is seeking to expand its exposure to blockchain and cryptocurrency, and is currently developing plans to offer cryptocurrency trading services, according to an executive at the company.
However, direct custody of cryptocurrencies is not currently under consideration.
Scott Lucas, JPMorgan's head of global markets and digital assets, was asked on CNBC's "Squawk Box Europe" whether the banking giant would follow competitors like Citibank in providing custody for clients' cryptocurrencies.
Lucas responded that this is not part of the bank's "near-term plans," but emphasized that the bank is looking to offer cryptocurrency trading services.
"I think Jamie (Dimon) has been very clear on Investor Day that we will participate in trading, but custody is not currently under consideration," he said, adding:
Lucas stated that JPMorgan is currently exploring what kind of "suitable custodians" would be appropriate for the company.
In the interview, Lucas repeatedly mentioned JPMorgan's "and" strategy, explaining that the bank is looking to leverage multiple opportunities in the space rather than focusing on one prospect over another.
"I think in how we approach this, we are very much taking an 'and' approach. There is both the existing market and the opportunity to do new things. These 'and' opportunities do not exclude either one," he said.
JPMorgan is gradually adopting a more expansive approach to cryptocurrency and blockchain by 2025, with partnerships with industry giants like Coinbase being a key example.
The increased engagement seems to stem in part from a shift in the attitude of its previously skeptical CEO, Jamie Dimon, towards cryptocurrencies.
After long criticizing the cryptocurrency space, Dimon stated in August that he has become a "believer in stablecoins" and sees the value of blockchain technology.
When discussing JPMorgan's deposit token, JPMD (which launched a pilot phase on Base in June), Lucas expressed enthusiasm for the potential of the bank's services for institutional clients, while also paying attention to stablecoins.
"So when it comes to JPMD, I think it's really exciting for us to think about how to provide different services to clients in terms of cash. It's also a response to the demand from clients for things like stablecoins," he said, adding:
In the broader blockchain space, Lucas also stated that JPMorgan does not believe there will be only one network (like Ethereum) that will dominate the market and become the main activity center.
"I don't think there will be just one; in fact, we expect some consolidation in the space, and now we see a bunch of new layer-one networks being launched… so there is a lot to fight for in public blockchains, and we do see opportunities there, and we will be doing some things in that space in the coming quarters," he said.
Related: Strategy announces first Bitcoin purchase in October, acquiring 220 BTC for $27.2 million
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
