JPMorgan and Citi Explore Stablecoins as Digital Payments Grow In Popularity

Two of the world’s largest banks are stepping further into the stablecoin world. JPMorgan and Citigroup are both exploring how these digital assets could become part of mainstream finance, and this time, it is more than just talk.

On recent earnings calls, JPMorgan CEO Jamie Dimon and Citigroup CEO Jane Fraser confirmed that their institutions are actively developing or evaluating stablecoin projects.

Dimon Steps Off the Sidelines

Jamie Dimon has been skeptical of stablecoins for years. He has often questioned why anyone would choose them over standard bank transfers or payment apps. Now, that position is starting to change. JPMorgan already has an internal deposit token called JPMD, which runs on its Base blockchain and is used for select institutional transactions. Now, the bank plans to begin testing external stablecoins as well.

Jane Fraser, Citi $C Q2 2025 earnings call: “We are looking at the issuance of a Citi stablecoin”

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