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Jamie Dimon and JPMorgan's crypto-asset stance and business evolution · JPM Coin / Kinexys / JPMD on Base

Confidence: Likely Updated 2026-05-29 Review by 2026-11-18 Sources 6 Machine-translated Original (JA)
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This entry sits under business INDEX as a public-company-strategic-case anchor. Read it against Triple-role COI template · VC GP + large-customer Board + portfolio-company CEO triangular structure for peer / contrast context and fintech index for the broader system / regulatory boundary.

Key facts

  • In 2017-09 Dimon stated “BTC is a fraud, and any trader who buys BTC will be fired immediately”
  • At the 2022-09 House hearing he testified that crypto assets are “decentralized Ponzi schemes,” and at 2024-01 Davos said “Bitcoin is a pet rock”
  • Softened in 2024-Q2 : acknowledged that stablecoins + tokenisation have “real-demand use cases”
  • Renamed Onyx to Kinexys in 2024-11
  • JPMD on Base launched in 2025-Q4 = the first tokenised deposit issued by a major bank on a public chain
  • In 2026-Q1 , JPMD circulation ~$1B / institutional customers 100+

Origin & evolution

During the BTC price surge of 2017 年, Dimon publicly opposed it while JPM Coin had already been turned into an internal project within the company (for intra-corporate clearing purposes). JPM Coin was released in 2019-02 . The Onyx division was established in 2020-10 and renamed Kinexys in 2024-11 . In the same period: BlackRock × Coinbase partnership (2022-08), BUIDL launch (2024-03), IBIT approval (2024-01). In 2024-Q4 Dimon shifted to the supportive side. JPMD on Base launched in 2025-Q4 . In 2026-Q1 , JPMD circulation ~$1B / institutional customers 100+.

Sources