This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
JPMorgan Chase CEO Jamie Dimon defends the bank’s decision to charge fintech firms like PayPal and Coinbase for customer data access, citing security and cost concerns. Critics argue the move stifles competition and could hinder crypto adoption.
- JPMorgan justifies fees as covering API costs and protecting customer data control, with time-limited sharing and no resale.
- Critics allege the policy aims to suppress fintech/crypto rivals by raising costs for moving funds to platforms like Coinbase.
- Kraken's co-CEO advocates for open financial infrastructure over restrictive data monetization by banks.
📎 Related coverage from: dailyhodl.com