JPMorgan CEO, Jamie Dimon, warned investors in his latest annual letter that the bank must accelerate its efforts in blockchain technology to meet mounting competition from the crypto sector. 

Dimon told shareholders that a “whole new set of competitors” has emerged around blockchain-based products — including stablecoins, smart contracts, and broader tokenization — and that the bank needs to “roll out our own blockchain technology” to defend its market position.

JPMorgan Doubles Down On Crypto

The call to action comes as the US regulatory landscape for crypto undergoes notable shifts and traditional financial institutions increasingly adopt decentralized technology. 

JPMorgan is not starting from scratch: the firm introduced…