JPMorgan CEO Warns of the Rise of “Crypto New Forces,” Accelerating Its Own Blockchain Expansion

Mars Finance news: In an annual letter to shareholders released on April 6, JPMorgan Chase CEO Jamie Dimon explicitly identified blockchain technologies such as smart contracts, stablecoins, and tokenization as a completely new competitive group, warning that they may overturn core banking operations, including payments, trading, and asset management. JPMorgan Chase’s institutional blockchain platform Kinexys targets daily trading volume of $10 billion, with clients including Mitsubishi Corporation, Qatar National Bank, Siemens, and BlackRock. The firm deployed its deposit-backed token JPM Coin (JPMD) to the Base network supported by Coinbase in November 2025, and expanded to the Canton Network in January 2026. Although Dimon has previously held a critical stance toward cryptocurrencies, he admitted that competition has intensified, while also saying he is confident the firm can maintain its leading position. In 2025, the firm refreshed its highest returns for the eighth consecutive year, with revenue of $185.6 billion and net profit of $57.0 billion.