JPMorgan CEO Jamie Dimon has acknowledged that blockchains and stablecoins are real technologies that will help deliver more efficient transactions and better customer experiences.

“Crypto is real, if you mean blockchains, stablecoins, you have a JPMorgan deposit coin, you can move stuff. Smart contracts are real. All that stuff is real. It will be used by all of us to facilitate, you know, better transactions and customer service,” said Dimon, speaking at the 9th edition of the Future Investment Initiative (FII9) in Riyadh, Saudi Arabia, this week.

JPMorgan plans to allow institutional clients to use Bitcoin as collateral for fiat loans, marking a practical shift toward mainstream integration of digital assets into traditional banking services.

The move positions JPMorgan among traditional banks embracing cryptocurrencies for real-world financial applications, signaling growing institutional recognition of digital assets’ role in modern finance beyond its early alleged associations with illicit activities.