From Jamie Dimon via Larry Fink, many international banks have changed their mind about cryptocurrencies.
It is a jacket of more than one boss with regard to cryptocurrencies. Jamie Dimon, at the head of the famous American bank JP Morgan, decided to open up to Stablecoins.
The latter wants his bank to be “competent” with regard to these cryptos who have the stern around the world. In 2017, he was one of the most virulent bosses with regard to virtual currencies. Recording the bitcoin of “fraud”, he had threatened to dismiss any trader of JP Morgan venturing into this area.
His change of opinion is not the result of chance. Indeed, American president Donald Trump has become a fervent defender of cryptocurrencies. Last week, the United States thus adopted a first law aimed at regulating the Cryptos market, reassuring banks that want to offer Cryptos services. Several of them have recently been interested in investing their energy in this area, such as Bank of America and City.
Before Jamie Dimon, the most emblematic boss who returned his jacket with regard to the cryptos is Larry Fink, at the head of the giant of the BlackRock asset management. In the past, the latter called the bitcoin “money laundering” tool. Since the launch of an ETF Bitcoin Spot Blackrock in Wall Street in 2024, Larry Fink has multiplied positive declarations with regard to Bitcoin, qualifying it as digital gold.
Developments in France
In France, several banking owners have also reassessed their opinion with regard to cryptos. In 2017, the former director general of Société Générale Frédéric Oudéa declared that cryptos “contain too many risks because of their anonymity”. It was however under its direction that the French bank was a pioneer in the launch of Cryptos and Blockchain projects, in particular via its subsidiary SG Forge.
More recently, François Villeroy de Galhau, the boss of the Banque de France, softened his position. In 2017, the latter described the bitcoin “speculative active” whose value and strong volatility “do not correspond to any economic underlying”. In November 2024, if he described the “risky” asset bitcoin, that does not mean “that we cannot invest” in this crypto. An astonishing declaration while the boss of the Banque de France defends beak and nail the development of a digital euro.
Until now, banks have remained reluctant with regard to cryptocurrencies, due to the lack of regulation of this sector. But between Europe which adopted its Mica regulations in early 2025 and the United States which also work in this area, they will be able to launch more serenely on this niche.
End-June, moreover, Caceis Bank, a subsidiary of Crédit Agricole, has become the third French player to obtain European Mica approval (pour “Markets in Crypto-Assets Regulation”) And the first French bank to obtain this famous sesame. Here again, a reversal of strategy while the former boss of Crédit Agricole, Philippe Brassac, predicted a bitcoin which fell to $ 0 in April 2025.
The American banks Goldman Sachs and Bny Mellon, but also the Europeans BBVA in Spain and the Deutsche Bank in Germany, did not wait for a regulatory framework to exist in innovating in cryptos. Quickly, the latter sought to meet the needs of their customers, allying with the crypto sector. By offering targeted services, they have won new customers, generating new income.
