As CNBC reported, Dimon said the firm “will be involved” in both formats to master the technology and protect market share.
Dimon framed the decision as defensive. He said fintech companies already design products that mimic checking accounts, payments networks, and loyalty platforms.
Furthermore, JPMorgan’s CEO added that the firm must engage rather than watch.
Fink cited the GENIUS Act, a stablecoin-focused bill that aims to establish a federal framework for stablecoin issuance, adding that it could accelerate the adoption of stablecoins.
Furthermore, Dimon acknowledged that failing to act could allow non‑banks to capture cross‑border flows and merchant payments:
“You know, these guys are very smart. They’re trying to figure out a way to create bank accounts, to get into payment systems and rewards programs, and we have to be cognizant of that. And the way to be cognizant is to be involved.”
