Jimmy Damon just gave a big thumb to Stablecoins – but still Bitcoin no longer

He added that the “Stablecoin”, or an encrypted currency linked to basic assets such as the US dollar. “There are things that Stablecoins can do that the traditional money cannot do,” Damon said, adding that “this is what the customer wants. It is not what JPMorgan personally wants.”

Dimon has long distinguish between Blockchain technology, or the notebook of the decentralization, and Bitcoin, the largest encrypted coin in the world. His comments on Wednesday with CNBC He is in line with his previous thinking, but his coordination from Bitcoin was softer than his previous removal operations.

In 2017, it is He said He will expel any JPMorgan Chase who was trading Bitcoin because he was evidence that they were “stupid”. In 2023, it is He said Bitcoin was a “vicious fraud”, compared the distinctive symbol to the “pet rock”, and said that the cryptocurrency is “a waste of time.” However, I acknowledged that Blockchains was useful.

“Blockchain is the technology professor’s book system that we use to transfer information. We have used it to connect Ribo during the night and return the ribo during the day, and we used it to transfer money, right? This is the technology professor’s book that we believe will be published.”

Dimon heads the largest bank in the United States and its comments on Stablecoins adding more legitimacy to the rapid encryption industry, especially after the passage of the genius law in Congress, a draft law regulating Stablecoins.

JPMorgan Chase has always had its Blockchain section. The team, originally called ONYX, was renamed to Kinexys and began to expand outside the bank’s “wall garden”, which is an industrial term for special files.

In May, the bank settle Her first deal on General Blockchain. In June, Kinexys announced that she was experimenting with what JPMD, a stablecoin -like origin known as the distinguished deposit. The distinctive symbol will represent a dollar of deposit in JPMorgan Chase.