JPMorgan is looking into Bitcoin, says it 'will play a role' in future

Bitcoin ATMs pictured in Hong Kong Photo: Anthony Wallace / AFP / Getty Images

JP Morgan Co-President Jerry Pinto confirmed the bank was “looking into” the Bitcoin space overnight, saying cryptocurrency “will play a role” in the future.

Speaking to CNBC over two interviews, Pinto — who could be in line to succeed CEO Jamie Dimon — said that JPMorgan is able to trade Bitcoin futures but has not yet opted to do so.

“We are looking into that space. I have no doubt that in one way or another, the technology will play a role,” he responded when asked about trading Bitcoin-based products.

“If we need to clear futures of bitcoin, can we do it? Yes. Have we done it? No.”

Pinto’s neutral stance continues the investment banking giant’s somewhat mixed signals about Bitcoin in 2018.

Despite banning customers from purchasing cryptocurrency using its credit cards, senior executives — including the once infamously bearish Dimon — have variously spoken out about the beneficial aspects of both Bitcoin and blockchain technology.

Pinto, too, sees the future of the economy incorporating aspects which were born with the mainstream entry of cryptocurrency.

“The tokenization of the economy, for me, is real,” he continued. “Cryptocurrencies are real but not in the current form.”

JPMorgan is working on blockchain integration, Cointelegraph reported earlier this month, filing a patent for real-time p2p interbank transfers using the technology.

This post first appeared at CoinTelegraph, the authority on global cryptocurrency markets. Read the original article here. Follow CoinTelegraph on Facebook or Twitter.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.