CMC News

#JPMorgan Developing Crypto #Trading Services for Clients

JPMorgan is building #cryptocurrency trading services for clients as the banking giant expands its blockchain and digital asset exposure, according to global head of markets and digital assets Scott Lucas.

Lucas confirmed the trading services during a CNBC interview Monday but clarified that crypto custody remains off the table in the near term. CEO Jamie Dimon previously indicated on investor day that the bank would pursue trading opportunities.

The executive explained that questions remain around JPMorgan's risk appetite and how far the institution wants to extend into crypto activities. He noted that custody services would potentially follow trading capabilities but require further evaluation.

JPMorgan is currently exploring what appropriate #custody solutions would look like for the firm. Lucas emphasized the bank's "and" approach to crypto, seeking to capitalize on multiple sector opportunities rather than choosing between alternatives.

The strategy involves pursuing both existing market opportunities and developing new initiatives simultaneously. Lucas stated these opportunities are not mutually exclusive as JPMorgan evaluates its #blockchain sector positioning.