JPMorgan Chase CEO Jamie Dimon (제이미 다이먼) said new competitors based on blockchain, stablecoins and tokenisation are entering the financial sector, Cointelegraph reported on Sunday.

In an annual letter to shareholders, Dimon cited AI, data and advanced technology as central to the future of finance. He said financial services are moving faster toward automation and data-centric structures.

He did not make blockchain and digital assets a central topic in the letter. But he separately mentioned blockchain-based operators when discussing shifting competitive dynamics. He said stablecoins, smart contracts and other forms of tokenisation are emerging as competitive forces outside traditional financial firms.

JPMorgan is also expanding its own blockchain business. Its in-house blockchain infrastructure, Kinexys, is a network that can move funds in near real time without existing intermediaries. JPMorgan set a goal of increasing Kinexys daily transaction volume to as much as $10 billion.

It recently added Japan's Mitsubishi Corp as a new Kinexys client. Qatar National Bank, Siemens and BlackRock are also clients. JPMorgan appears to be seeking to grow Kinexys beyond a remittance network into a tokenisation platform and expand it into private credit and real estate markets.