JPMorgan Chase, the largest bank in the United States, is open to launching a stablecoin, according to a company spokesperson.

The bank recently held preliminary conversations about whether it could issue its own stablecoin, the Wall Street Journal reported Wednesday, citing people familiar with the matter. At present, JPMorgan has no active plan to launch a stablecoin, but it may consider one in the future.

"While we have no plans to issue a stablecoin, depending on customer demand and the evolution of the regulatory landscape, we would of course evaluate all options in the future," a JPMorgan spokeswoman said.

The bank already operates a digital deposit token, JPM Coin, which it launched in November 2025 for institutional clients, Cryptopolitan reported. Deposit tokens are distinct from stablecoins: they represent digital claims on existing bank deposits, while stablecoins are digital tokens designed to hold a steady value against a fiat currency, typically the U.S. dollar. A stablecoin from JPMorgan would therefore be a separate instrument from its existing institutional token, and the bank has tied any such move to customer demand and how U.S. digital-asset rules develop.

U.S. banks now want their own stablecoins

Traditional banks long viewed stablecoins as a direct threat to their business. Lately, however, many of them have begun weighing the launch of their own tokens, joining the competition in a market estimated to process up to $1.5 quadrillion annually by 2035. That JPMorgan, already a digital-money operator through JPM Coin, is among those weighing a token shows how the industry's posture has shifted from defensive to competitive.

JPMorgan hinted at this shift in a research report, saying stablecoins have become a "must-have" given how efficiently they move money, Cryptopolitan reported.

"Consumers and businesses increasingly expect funds to move as fast as information," the bank said. "The sharp growth in real-time payment signals that instant settlement is moving from a 'nice-to-have' to a 'must-have.'"

In June, a consortium of U.S. banks and payment firms joined the Open Standard to launch a so-called OpenUSD stablecoin for global payments.

The Wall Street Journal also reported that Bank of America, Wells Fargo, and Santander are among a dozen financial institutions currently pursuing a stablecoin venture that would reach across the globe. The banks plan to issue a stablecoin for all Group of Seven currencies, starting with the U.S. dollar, for the commercial side of their businesses. How customer demand and the regulatory landscape evolve will determine whether JPMorgan's openness turns into an actual launch.