JPMorgan is looking to measure Blockchain and Crypto exposure and are now developing plans to offer cryptocurrency trading services, according to an executive executive.
The custodying crypto directly is currently on the table, however.
Speaking to CNBC’s Squawk Box Europe on Monday, JPMorgan’s Global Head of Markets and Digital Assets, Scott Lucas, is Question If the giant banking follows competitors such as Citibank to keep crypto for its clients.
In response, Luke explained that it was not on the “horizon nearby” for the bank, but emphasized that it was looking to offer crypto trading services.
“I think Jamie (Dimon) is quite clear on the investor’s day that we can join that trade, but the care is not at the table right now,” he said, adding:
“There are many questions around our own appetite at risk and how far we want to go down that path, from trading and its other sides, and the care I guess will follow.”
Luke said JPMorgan is currently exploring what will be the “right career” for the firm.
JPMorgan’s ‘and’ Crypto approach
During the interview, Luke identified JPMorgan’s “and” approach, explaining that the bank was looking to achieve many opportunities in the sector, rather than focusing on one prospect compared to another.
“I think when it comes to how we approach it, we take a lot of ‘and’ strategies. There is the existing market and there are opportunities to do new things. And those ‘and’ opportunities are not exclusive to one or the other,” he said.
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JPMorgan gradually began to take a Broader approach In the crypto and blockchain in 2025, cooperation with giant industries such as Coinbase as a key example.
Increased contact appears to be partially led by a tone change from former crypto-skeptical CEO Jamie Dimon.
After a long history of bashing crypto space, Dimon stated in August That he became a “believer in Stablecoins” and said he sees the value in blockchain tech.
Speaking to jpmd deposit jpmorgan jpmd, launched in a Pilot phase at the base In June, Luke said that while the giant banking was enthusiastic about its potential to institutional service clients, it also guarded Stablecoins.
“So when it comes to JPMD, I think it’s really exciting, there’s a real opportunity for us to think about how we can offer a variety of services for our cash side clients. As well as responding to the client’s request to do things like Stablecoins,” he said, and added:
And that approach is still emerging, as you understand. It’s only been a few months since we had clearer regulations around what the opportunity looks like. “
In terms of wider blockchain space, Luke also said JPMorgan did not see only one network, such as Ethereum, which was taking the market and becoming the main hub of the activity.
Instead, he sees many opportunities for the bank to potentially jump in the near future.
“I don’t think there will be one, and we really expect some integration -including that space and now we see a bunch of new layers 1 combined … So many play for the arrival of the public blockchain, we are definitely seeing the opportunity there and we will do things in that space in the upcoming quarts,” he said.
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