Jamie Dimon says JPMorgan might build a stablecoin with other banks
Major banks are embracing stablecoins as strategic tools to stay ahead of fintech rivals and adapt to blockchain-powered finance.
JPMorgan Chase & Co. (JPM) price
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- Last close
- $344
- Close-to-close change
- +1.3%
- Market cap
- $913.3B (shares as of 2026-06-30)
- P/E (trailing)
- 14.7 (EPS to 2026-06-30)
- Annual revenue
- $182.4B USD (FY ended 2025-12-31) 10-K
- Annual revenue growth
- +2.8% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
- Annual net income
- 57,048,000,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
- Annual operating margin
- Unavailable
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- Unavailable: no dated forecast source
Gloria daily close for session Oct 29, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.
JPMorgan Chase & Co. and its peers
| Company | Price | Market cap | P/E (trailing) | Forward P/E | Annual revenue (USD) | Annual revenue growth | Annual net income (USD) | Operating margin |
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$344 | $913.3B | 14.7 | Unavailable | $182.4BFY ended 2025-12-31 · 10-K | +2.8%FY ended 2025-12-31 vs 2024-12-31 · 10-K | 57,048,000,000FY ended 2025-12-31, attributable to the company · 10-K | Unavailable |
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$51 | $357.6B | 11.8 | Unavailable | $113.1BFY ended 2025-12-31 · 10-K | +6.8%FY ended 2025-12-31 vs 2024-12-31 · 10-K | 30,509,000,000FY ended 2025-12-31, attributable to the company · 10-K | Unavailable |
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$85 | $254.6B | 12.0 | Unavailable | $83.7BFY ended 2025-12-31 · 10-K | +1.7%FY ended 2025-12-31 vs 2024-12-31 · 10-K | 21,338,000,000FY ended 2025-12-31, attributable to the company · 10-K | Unavailable |
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$126 | $211.0B | 13.6 | Unavailable | $85.2BFY ended 2025-12-31 · 10-K | +5.6%FY ended 2025-12-31 vs 2024-12-31 · 10-K | 14,306,000,000FY ended 2025-12-31, attributable to the company · 10-K | Unavailable |
Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.
Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 29, 2026, 1:46 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.
Jamie Dimon, CEO of JPMorgan Chase, admitted he doesn’t know how stablecoins will play out, but instead of ignoring them, the bank is actively experimenting and may build one with other banks.
“Stablecoin was one where I don’t know how it’s going to play out,” Dimon said at the America Business Forum on Thursday. “What do we do about it? We’re involved. We’re building a stablecoin. We may build it with other banks.”
The bank already has a JPMorgan deposit coin that can pay interest and uses blockchain technology, Dimon said.
“Any of these tools that you want to use for smart contracts, we are simply going to do,” he added. “I don’t know how it’s going to sort out, but I’d rather be playing, which keeps us smart, than acting like I know the answer to it.”
Dimon, who has been skeptical about Bitcoin in the past, said the bank takes a consistent approach to frontier technologies. In business unit meetings, whether for the consumer branch or global investment banking, technology and artificial intelligence are always on the agenda.
“I always say, are you doing everything you need to do to win in the future, period?” Dimon said. “And I don’t care what the budget says.”
He emphasized that the bank pursues technologies regardless of his personal views.
“Sometimes, regardless of what I think about it, I want you to be dabbling in it because you’re being smart is much more important than saying Jamie does or doesn’t like it,” he said.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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