2026-01-15 09:33:01

JPMorgan's Chief Financial Officer Jeremy Barnum candidly expressed concerns about stablecoins at the recent earnings call. Why is one of the world's largest investment banks so cautious about this type of cryptocurrency?

Stablecoins have grown rapidly over the past few years, forming a sizable ecosystem. From JPMorgan's perspective, this blockchain-based payment and settlement system is gradually evolving into a financial network parallel to the traditional banking system. The emergence of this parallel banking system directly threatens the intermediary position and risk management capabilities of traditional financial institutions.

Barnum's statement reflects the deep concerns of traditional financial giants: as more value flows into the stablecoin ecosystem, central banks' monetary policy tools and traditional banks' liquidity control will face challenges. This is not just a competition issue but also involves the stability of the entire financial system.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

9 Likes

Reward
9
5
Repost
Share

Comment

0/400

faded_wojak.eth

· 01-15 10:01

Basically, it's fear. Traditional banks are afraid of being wiped out. What are those JPM folks panicking about? It's just that their system is about to lose its livelihood. The rise of stablecoins means their control is diminishing, and that's what they're truly worried about. Pretending to care about financial stability—it's just fear of losing influence.

View OriginalReply0

HodlKumamon

· 01-15 09:57

JPM is really panicking, to put it simply, they're afraid of losing their jobs... Data shows that the liquidity pool of stablecoins has already surpassed 150 billion. Really? Traditional finance is still worried about risk control, but we've already witnessed what transparent liquidation looks like on the chain. The most important lesson in the bear market survival guide: when the big fish start complaining about you, it means you're already threatening them. But on the other hand, the central bank's policies are indeed variables, so everyone needs to keep a close eye. If JPM really fears that much, why does their internal team still research blockchain... Honestly, this is a bit like closing your ears to steal a bell.

View OriginalReply0

BTCWaveRider

· 01-15 09:57

Laughing to death, JP Morgan is panicking. Basically, they’re just afraid of a revolution. Stablecoins should have been popularized a long time ago. Traditional banks have monopolized for too long. Listen to what they say about "risk control"—they just don’t want to lose their iron rice bowl. What truly threatens the financial system? It’s your monopoly. This wave of remarks might actually be a positive signal for stablecoins. The big players can’t sit still, which shows this thing really has hope.

View OriginalReply0

WhaleMistaker

· 01-15 09:43

Basically, it's just fear of being replaced. Big banks like JPM don't want to see their monopoly broken. Old story... If stablecoins were really that threatening, they wouldn't be banned yet. Their "risk control" is just that when risks come, they cover the losses—don't cause trouble.

View OriginalReply0

zkProofGremlin

· 01-15 09:37

JPMorgan is scared, stablecoins are really eating into their territory It's ridiculous, acting like it's the real deal, is the central bank policy failing? Exaggerating Traditional finance gets replaced only after screwing up, who can they blame When stablecoins become popular, they start shifting blame, classic big bank move Honestly, it's still a conflict of interest, nothing to hide Their profitable business has been poached, I can smell the bitterness Are central banks really that incompetent? Just listen and don't take it seriously They say they're worried while secretly building JPM Coin, what kind of move is this Financial system stability? They created the bubble themselves and are now blaming blockchain

View OriginalReply0