Bitcoin News Today: JPMorgan Embraces Stablecoins Amid Rising Crypto Demand

JPMorgan CEO Jamie Dimon has recently signaled a significant softening in his long-standing skepticism toward cryptocurrencies, particularly in the context of blockchain technology and stablecoins. During a recent CNBC interview, Dimon made it clear that JPMorgan’s growing involvement in the digital asset space—such as its new partnership with Coinbase, plans to issue a deposit coin, and broader stablecoin offerings—is driven primarily by customer demand rather than personal conviction [1]. This marks a notable shift from his previous dismissive stance, including his infamous 2017 characterization of Bitcoin as a “fraud” [12].

The partnership with Coinbase, announced on July 30, includes three key features: a direct API connection between JPMorgan and Coinbase, enabling users to transfer funds between bank accounts and crypto wallets without relying on third-party intermediaries like Plaid [12]; the ability to purchase crypto using JPMorgan credit cards [12]; and the option to redeem Chase Ultimate Rewards points for USDC, a major stablecoin [12]. The rewards conversion and API features are set to roll out in 2026, while the credit card funding option could be available as early as late 2025 [12].

Dimon emphasized that while JPMorgan remains cautious about Bitcoin—particularly its use in illicit activity—he now sees value in blockchain technology and its potential to redefine financial infrastructure [1]. JPMorgan has already begun pilot programs involving deposit tokens and filed trademarks for digital asset-related services, indicating a strategic pivot toward the growing demand for crypto-related banking solutions [12]. The bank is also exploring the possibility of offering direct loans backed by Bitcoin as collateral, with a potential launch as early as 2026 [1].

These developments are occurring in a broader context of regulatory clarity and rising institutional interest in stablecoins. The recent passage of the U.S. GENIUS Act has created a more favorable environment for stablecoin adoption, encouraging banks, tech firms, and retailers to explore new use cases [1]. Visa, another major player, is also expanding its stablecoin support to include USDG, PYUSD, and EURC, and integrating new blockchain networks like Stellar and Avalanche, reflecting a broader industry trend toward mainstream adoption [1].

JPMorgan’s engagement with the digital asset space has already had market effects. Following the Coinbase partnership announcement, Coinbase’s stock rose nearly 3%, and JPMorgan shares increased by about 1% [12]. This move positions JPMorgan as a key player in the convergence of traditional finance and digital assets, with Dimon’s evolving stance highlighting the bank’s pragmatic approach to innovation and customer needs [1].

Source: [1] [Jamie Dimon just gave a thumbs up to stablecoins—but](https://www.aol.com/finance/jamie-dimon-just-gave-thumbs-172158916.html)

[4] [JPMorgan to lend against 'crypto' holdings; WU eyes](https://coingeek.com/jpmorgan-to-lend-against-crypto-holdings-wu-eyes-stablecoin/)

[5] [JPMorgan & Coinbase Team Up: Crypto From Points, Bank](https://www.mitrade.com/insights/news/live-news/article-3-1002257-20250731)

[11] [Regulation Finally Arrives, And Wall Street Is Paying](https://www.blockchaincoinvestors.com/newsletter/regulation-finally-arrives-and-wall-street-is-paying-attention)

[12] [JPMorgan, Coinbase Partnership 'Removes the Need for](https://thedefiant.io/news/cefi/jpmorgan-coinbase-partnership-removes-the-need-for-the-middleman)