Dimon Hints at Eventual Consumer Use of JPM Coin

 

 

 

 

 

 

In remarks at the annual JPMorgan Chase investor day, CEO Jamie Dimon suggested that his company’s new JPM Coin digital currency could possibly be available for use by consumers someday, CNBC reported on Tuesday. In comments made during a Q&A session, Dimon said:

“JP Morgan Coin could be internal, could be commercial, it could one day be consumer.”

When JPMorgan Chase revealed the new digital coin, the company said that its initial use would be limited to transaction settlements for large corporate clients. At the time, reports indicated that there were no plans for retail consumer use – though the company did plan to expand JPM’s use in the future.

As CNBC noted in its report, that still appears to be the official JPMorgan position:

Dimon’s comments are probably speculative. On the bank’s website, it says that there are no plans to offer access to JPM Coin to individuals.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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