NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Jamie Dimon: JPM Coin Could One Day Be Used By Consumers… But Why?

Rick Delafont
Rick Delafont
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The CEO of multinational investment bank JP Morgan Chase, Jamie Dimon, has stated that the newly-announced, not-so-crypto JPM Coin might one day be used by consumers. The digital asset currently being trialled by the institution and its partners will be pegged to the value of the dollar, thus offering little to no innovation.

Dimon has drawn much ire from the cryptocurrency community over his comments about Bitcoin. He has previously stated that the number one digital asset by market capitalisation is a “fraud” before later backpedalling, claiming that he really did not care about the fintech innovation.

JPM Coin Might be Offered to Consumers, But Who Would Want to Use it?

According to a report in CNBC, Jamie Dimon has stated that the JPM Coin that NewsBTC reported on earlier this month might one day be used by consumers. The CEO appeared at JP Morgan Chase’s annual investor day, where he was asked about the potential future use cases of the digital currency backed by the bank during a Q and A session. Dimon replied:

“JPM Coin could be internal….it could one day be consumer.”

The problem with the JPM Coin is that it offers very little in terms of monetary revolution proffered by Bitcoin. This is, of course, by design. Banking behemoths, such as JP Morgan, have a vested interest in the financial status quo. They do remarkably well out of the current fiat system and have zero desire to promote the kind of radical financial democratisation possible with permissionless, decentralised blockchain-based currencies like Bitcoin or other cryptos.

Jamie Dimon repeatedly bashed crypto then decided to back JPM Coin.

JPM Coin will be supported by a network of validators approved by the bank itself. Those using it, both in its current form (institutional users only) and the hypothetical consumer-facing product Dimon alluded to earlier today will also need permission to transact on the network. If the transaction is deemed illegal or supports a cause at odds with JP Morgan, it could easily be censored.

JPM Coin feels kind of like the mail service of yesterday saying:

“We have this new system. It’s called email and it’s fast, cheap, and efficient. You can use it, but only through us. You have to ask us permission. We’ll read your correspondence, decide if we like it, and providing we do, we’ll transmit your message across the network for you. But if we don’t like you, or what you’re all about, that’s too bad. Neat, huh?”

In all honesty, the launch of such bank-backed digital currency products is to be expected. We are looking at a hulking great dinosaur of an industry that is trying to stay relevant in fast-moving times. In an effort to do so, JP Morgan has elected to offer a pale imitation of cryptocurrency. The JPM Coin might one day be offered to consumers but in the meantime, those same consumers are welcome to experience all the same benefits it offers and more using Bitcoin or their choice of decentralised crypto asset. It seems hard to imagine that given fair choice, JPM Coin would win out.

 

Related Reading: Crypto Sphere Believes Galaxy S10, JPM Coin Behind Bitcoin Rally, But Is Really a Return to Mean

Featured Image from Shutterstock.
Tweet123Share196ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Targets Liquidity Above $3,000 – Price Magnet Forming

Ethereum Targets Liquidity Above $3,000 – Price Magnet Forming

Ethereum just broke above the critical $3,000 level, marking a major technical milestone after surging over 20% since Tuesday. This...

Sebastian Villafuerte 6 hours ago
99Bitcoins Q2 Report Unveils What’s Powering the 2025 Crypto Boom

99Bitcoins Q2 Report Unveils What’s Powering the 2025 Crypto Boom

The crypto market has been on a tear in 2025, and the latest 99Bitcoins Q2 State of Crypto Market Report,...

Aaron Walker 11 hours ago
Bitcoin

Bitcoin Dominance Falls: 9 Factors To Watch For That Says The Altcoin Season Has Begun

Bitcoin’s price is holding firm despite growing chatter about the end of its market dominance. However, analysts are turning their...

Scott Matherson 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

迷馬斯克發言引爆PNUT價格爆漲20% 迷因幣火熱本周末不能錯過的1000倍幣!

Mark Mak 1 hour ago

比特幣強勢爆發 標普創歷史新高 SPX6900與T6900代幣蓄勢待發 即將引爆新一輪行情

estherw 2 hours ago
Ethereum

Ethereum Price Breaks Through 50EMA After Rejection, ETH Dominance Sees Resurgence

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • 4 kryptomeny, vďaka ktorým toto leto zmeníš 1000 € na...

    6 hours ago
  • 3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    7 hours ago
  • 4 kryptowaluty, dzięki którym tego lata zamienisz 1000 zł w miliony

    4 kryptowaluty, dzięki którym tego lata zamienisz 1000...

    7 hours ago
  • 4 criptomonede cu care poți transforma 1000 de lei în milioane vara aceasta

    4 criptomonede cu care poți transforma 1000 de lei în...

    10 hours ago
  • 3 altcoinuri de urmărit în a doua săptămână a lunii iulie 2025

    3 altcoinuri de urmărit în a doua săptămână a lunii...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.