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- Saturday, July 2nd, 2022 at 08:53 #324764Priya_Balaji432Participant
# Although Jamie Dimon has not spoken well of cryptocurrencies on other occasions, he does not fail to see the underlying business of DeFi and blockchain.
Investment bank **JP Morgan** has shown interest in **decentralized finance**, DeFi, and the underlying technology of **blockchain** to unlock more growth potential in its industry. Additionally, as stated in one of the most recent letters to its shareholders, “the business is dedicated to be at the vanguard of innovation,” in the words of its CEO Jamie Dimon. Blockchain and decentralised finance are actual, cutting-edge technologies that may be used publicly or privately, with or without authorization, Dimon continued.
Eight of the top ten technological businesses use JPMorgan to process payments, up from only three five years ago, according to the firm’s director. JP Morgan’s interest in cryptocurrency assets therefore creates fresh opportunities for Non-Fungible Token adoption, Metaverse usage, and much more. The firm has a large number of users around the world that will learn about the possibilities of cryptocurrencies as JP Morgan implements decentralized solutions or facilitates access to them. Additionally, customers will be able to trust this business for future services because to its reputation.
According to the letter to shareholders, “We continue to bring novel technologies to market and commercialize them, such as integrated banking, fraud management using artificial intelligence… and even programmable payments utilizing JPM Coin.” He said, “We also utilize the blockchain to shift tokenized money into JPM Coin deposits and we use the LINK blockchain to allow banks to communicate sophisticated information.
The American company has ambitions to leverage BTC and Ethereum-related technology in the upcoming years and has already introduced a number of services, as explained in this letter to shareholders. According to Coin telegraph, this endorsement is yet another boost for the industry that has been officially revalidated by one of the most significant corporations in the US and may encourage the admission of new users into the cryptocurrency sector.
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