JPMorgan Confirms Clients Will Trade Bitcoin and Crypto
Bitcoin MagazineJPMorgan Confirms Clients Will Trade Bitcoin and Crypto JPMorgan’s global head of markets digital assets said the bank will allow clients to trade Bitcoin. This post JPMorgan Confirms Clients Will Trade Bitcoin and Crypto first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
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JPMorgan Confirms Clients Will Trade Bitcoin and Crypto
JPMorgan has re-confirmed it will allow clients to trade Bitcoin and other cryptocurrencies.
While the bank will not immediately offer custody services, it is expanding its blockchain initiatives and exploring how crypto fits into its broader markets strategy.
Scott Lucas, JPMorgan’s global head of markets digital assets, outlined the bank’s approach in a CNBC interview, emphasizing an “and” strategy that balances existing financial infrastructure with emerging blockchain opportunities.
On trading crypto, Lucas said that, “Jamie [Dimon] was pretty clear during investor day that we were going to be involved in the trading of that, but custody is not on the table at the moment,”
The bank has been experimenting with deposit tokens and stablecoins, tools that enable cash-like digital assets on distributed ledgers.
“Naturally, we need custodians. So we’re exploring what the right custodians for us for the business footprint of,” Lucas said.
Lucas highlighted JPMorgan’s deposit token, JPMD, which is currently a prototype in the U.S., as a platform for potential client services and cash management solutions.
JUST IN: JPMorgan confirms on CNBC that they will allow clients to trade #Bitcoin and crypto but not yet launch custody services
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