JP Morgan CEO: We Will Compete with Bitcoin Startups ‘Partnering Where It Makes Sense’
JP Morgan Chase & Co., the largest bank in America and one of the world's major provider of financial services, recently issued its 2014 annual report, in which the firm's chairman and CEO Jamie Dimon suggests that new competitors are "looking to compete with banks," and that his firm is "keeping an eye on [these emerging players]," most particularly on Silicon Valley's startups. "Silicon Valley is coming," warns Dimon. "There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking." What the executive is referring to is nothing else....
Related News
Banking giant JP Morgan has recently announced that they will be launching an In-Residence program in a bid to get FinTech startup companies to tackle challenges within the industry. JP Morgan is aiming to get financial technology startups to come together with its company so that they can brainstorm ideas that will help to change the industry, enabling banks to work faster and safer. The FinTech companies that have the opportunity to take part in the In-Residence program will join forces with JP Morgan for six month periods with access to the American bank’s systems, expertise, and....
Morgan Stanley said the integration of Strike and BlackHawk Network lets bitcoin enter physical locations, which makes up 85% of U.S. transactions.
Nine crypto startups have made it through to the finals of this year's BBVA Open Talent competition. The Spanish multinational banking group's global fintech startup competition is split into three regional finals. The European final will be held in Barcelona - where Everledger, Safello and Vaultoro will compete. The South American final will include Bitnexo and Bitso among its other finalists. Bitwage, Coinalytics, SnapCard and Voatz will compete in New York, alongside startups from the US and other parts of the world. Each of the six winners will receive a €30,000 prize and the....
If comments from JPMorgan's CEO are any indication, the financial giant considers Bitcoin a competitor — and it plans to compete. Bitcoin developers “are going to try and eat our lunch,” JPMorgan Chase Chairman and Chief Exectutive James Dimon said, at the Institute of International Finance annual meeting, as reported by Institutional Investor. “And that’s fine. That’s called competition, and we’ll be competing,” he added. The Institute of International Finance is a global financial alliance; the world's financial leaders congregate annually for the membership conference, where the....
JP Morgan, the fifth-largest bank in the world by assets, has had a long history of sparring with Bitcoin, highlighted by some under-informed comments CEO Jamie Dimon made about Bitcoin for CNBC in January 2014. Over time, the US-based bank has seemed to have better educated themselves — but not before the flight of Blythe Masters, their pro-blockchain....