Daniel Pinto, co-chairman and COO of the banking firm, said that JPMorgan will support trading of Bitcoin should it be requested by its customers.
A duty, he added, in the face of an asset which is now used by many managers and investors. Finally stating that a question to that effect has not yet been revealed, however, declaring himself certain that it will eventually come. Meeting on its route JPMorgan, which is ready to offer its services to those who intend to use financial innovation.
The meetings of the past month
During the month of January, the US bank was engaged in a long series of meetings with a large number of merchants and sales staff from all over the globe. During which the question was almost unfailing: when will trading BTC with JPMorgan be possible?
Pinto himself, for his part, declared his confidence in cryptocurrencies, citing in support of his sympathy the recent move by BlackRock, which launched Bitcoin futures within two of its funds. Remembering that in the case of a BTC regulation, the bank would not hesitate to involve certified customers and exchange considered reliable, starting with Coinbase.
A quite conspicuous change of course
The banking sector is looking at digital assets with increasing interest. As a recent statement from inside sources demonstrates a BNY Mellon, the oldest bank in the United States. According to which the company would be ready to offer the digital money custody service by the end of the year.
Pinto's statements, however, represent a quite conspicuous change of course compared to a rather stormy past in relations between the bank and Bitcoin. Basically accused of representing a fraud by Jamie Dimon, CEO of JPMorgan, a few years ago. Dimon himself had added his intention to fire the bank's traders who were caught trading BTC. To then go back quite sensationally in the following months. Oddly, just as rumors of a JPMorgan's involvement in Bitcoin trading. Enough to push more than one analyst to report one market disruption from Dimon.
JPMorgan, the correction had already begun
At the same time, however, it should be noted that JPMorgan had already initiated a correction of its initial attitude towards digital assets. Just think in this sense of the decision to launch its own cryptocurrency, JP Coin, demonstrating how Dimon's words, moreover common to a good part of traditional finance at the time, had been largely superseded.
It should also be emphasized that precisely what is happening, with Bitcoin at the center of the interest of large companies, makes it impossible even for banking giants to ignore it. Just think of the $ 1,5 billion investment in tokens by Tesla, for example. Or al Uber's recent announcement to want to open ai Bitcoin payments in his system.
An evolution that also advises the top management of JPMorgan to pay the utmost attention to those cryptocurrencies which seem to be heading more and more happily towards mass adoption. Enough to push more than one observer to say that if they are not yet a mainstream phenomenon, their range of action is expanding at an ever faster rate.