Bitcoin News Today: Jamie Dimon's 180 on Crypto: JPMorgan Embraces Stablecoins as Mainstream Tools

JPMorgan Chase & Co. (JPM) has officially recognized the growing role of stablecoins and blockchain technology in the financial ecosystem, signaling a strategic pivot to integrate these digital assets into institutional services. CEO Jamie Dimon, once a vocal skeptic of cryptocurrencies, now acknowledges that stablecoins and blockchain are "real" and will become mainstream tools for global finance, according to a Benzinga article. This shift aligns with the bank's broader efforts to bridge traditional finance and digital assets; the report also says the bank plans to allow institutional clients to use Bitcoin and Ethereum as collateral for loans by late 2025.

The move comes as JPMorgan's Deposit Token, a blockchain-based payment instrument representing customer deposits, enters a pilot phase. Unlike conventional stablecoins, these tokens are interest-bearing and fully backed by bank liabilities, operating on Coinbase's Base network. Dimon emphasized the bank's control over its private blockchain, contrasting it with decentralized networks like Bitcoin's, which he described as lacking centralized governance.

The bank's upcoming collateralization program is one of the most direct integrations of crypto into traditional finance by a major Wall Street firm.

This pivot reflects broader industry trends. A Decrypt article reports that Standard Money, a stablecoin issuer on the BNB Chain, recently secured $8 million in funding led by Yzi Labs to expand its USDsd stablecoin network. Meanwhile, Bitcoin's network hashrate hit a record high in October, rising 5% to 1,082 exahashes per second, according to a Coindesk report. The bank also noted that Bitcoin miners are becoming critical to AI data centers, with Bernstein analysts raising price targets for mining firms amid surging demand, according to a Coindesk analysis.

Despite market volatility—Bitcoin and altcoins fell sharply in early November, with $1.16 billion in liquidations—Dimon remains bullish on crypto's long-term potential, in a Yahoo Finance interview. He dismissed concerns about Trump's attacks on the Federal Reserve, asserting the central bank's independence is "absolutely critical." Separately, JPMorgan's willingness to reconsider a $20 billion Argentina loan package, contingent on the country's economic recovery under President Javier Milei, underscores its pragmatic approach to emerging markets, as noted in a Seeking Alpha summary.

The bank's embrace of stablecoins also aligns with regulatory developments. Decrypt also reported that AMINA, a European crypto firm, recently obtained a license under the EU's Markets in Crypto-Assets (MiCA) framework to expand services across the continent. Dimon's comments on blockchain innovation come as DeFi protocols face scrutiny, including a $128 million exploit of Balancer that prompted Berachain to halt its network for a hard fork, according to a Decrypt report.

For JPMorgan, the integration of stablecoins represents both a competitive imperative and a response to client demand. "Crypto is real. Blockchain is real. Stablecoins are real," Dimon stated at Saudi Arabia's Mega Investment Summit, alongside executives from Goldman Sachs and BlackRock. The bank's Deposit Token pilot and collateral program aim to streamline transaction efficiency while maintaining regulatory compliance, a balance Dimon described as essential for scaling digital finance.

As traditional institutions increasingly adopt crypto tools, JPMorgan's moves highlight the sector's evolution from niche speculation to institutional-grade asset class. With Bitcoin miners expanding capacity and stablecoin networks securing fresh capital, the line between traditional and digital finance continues to blur—setting the stage for broader market adoption in 2026.