JPMorgan Chase is Considering Launching Bitcoin Futures

JPMorgan Co-President Jerry Pinto: Cryptocurrency “Will Play a Role” in Future

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  • Jerry Pinto of JPMorgan Chase stated that in the near future, Bitcoin would play a role in the bank.
  • The bank has the ability to trade Bitcoin futures, though the bank has not decided yet to do so.

Canada: has gathered report today 16th May that Jerry Pinto, the Co-President of JPMorgan Chase – the National Bank of Canada, has confirmed that the bank was considering trading Bitcoin futures. Jerry stated that in the future, cryptocurrency “will play a role.”

While speaking during an interview, Jerry, who could possibly succeed Jamie Dimon as the CEO, stated that though JPMorgan has the ability to trade Bitcoin futures, the bank has not decided yet to do so. When asked about trading Bitcoin-related products, Jerry replied:

“We are looking into that space. I have no doubt that in one way or another, the technology will play a role. If we need to clear futures of bitcoin, can we do it? Yes. Have we done it? No.”

Jerry’s response posed a neutral stance which continues JPMorgan’s rather mixed signals about Bitcoin. Last February, JPMorgan Chase stopped the purchasing of Bitcoin and other cryptocurrencies with its credit cards, notwithstanding, the senior executives of the bank including Jamie Dimon – the once infamous Bitcoin bear –  believed that Blockchain is not a threat and have separately stated the benefits presented by both Bitcoin and blockchain technology.

Jerry also envisaged a future in which the world economy would witness a mainstream entry of cryptocurrency. He said:

“The tokenization of the economy, for me, is real. Cryptocurrencies are real but not in the current form.” reported last month that JPMorgan, as well as other participants from the banking sector, have tried out the Quorum Blockchain platform with the intention of making the procedure of issuing financial instruments more efficient.

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