JPMorgan Chase will soon allow clients to buy Bitcoin, announced despite CEO Jamie Dimon's continued skepticism towards the cryptocurrency. Dimon stated this to shareholders, clarifying that the bank will not hold Bitcoin in custody. He remains critical of Bitcoin due to its use in illegal activities.
Dimon downplayed the importance of blockchain technology, despite JPMorgan's ongoing development in the space. He noted that the bank has been investing in blockchain for 12-15 years. JPMorgan's blockchain platform, Kinexys, recently tested tokenized U.S. Treasuries settlement on Ondo Chain's testnet.
This move signals a significant step for institutional involvement in cryptocurrency, despite the CEO's reservations. The bank's Kinexys platform testing tokenized U.S. Treasuries highlights its continued exploration of blockchain applications.
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