The CEO's annual shareholder letter warned that new tech is reshaping finance, with tokenization and blockchain competitors gaining as the bank scales its own network.
JPMorgan CEO Jamie Dimon said “new technologies” are intensifying competition across the financial sector, with blockchain-based players emerging alongside traditional rivals.
In his annual shareholder letter on Monday, Dimon identified artificial intelligence, data and advanced technology as “key to the future,” signaling a shift toward more automated, data-driven financial services.
While blockchain and digital assets were not a central focus, Dimon acknowledged that “a whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts and other forms of tokenization.”
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