Dimon Praises Revolut’s Pace, Vows Fight Over Stablecoin Yields

JPMorgan Chase CEO Jamie Dimon praised Revolut’s rapid expansion and said banks will oppose parts of the CLARITY Act that would allow stablecoin issuers to pay deposit-like yields without meeting bank capital, liquidity and consumer protection rules. He made the remarks while discussing Chase’s UK business in a recent interview.

Commenting on Revolut’s execution, Dimon said ‘I’m jealous, damn it. You watch these people. They move.’ He also called for resistance to proposals that would permit stablecoin yields without the safeguards that apply to banks.

On the CLARITY Act, Dimon warned the yield provisions ‘will be fought’ and urged lawmakers not to accept language that lets stablecoin issuers offer deposit-like interest absent bank oversight.

Revolut’s 2025 results show revenue of $6 billion, up 46%, and pretax profit of $2.3 billion, up 57%. The company reported more than 75 million customers and added roughly 1 million users every 17 days. Company management said crypto and stablecoin volumes contributed to the record annual profit, while card fees and interest income remain major revenue sources.

Revolut’s wealth unit, which includes crypto products, rose about 31% to $876 million in 2025. The firm operates crypto services through separate legal entities and has rolled out products such as a physical crypto card to engage users beyond trading.

Banking groups argue that allowing stablecoin issuers to pay deposit-like rates should trigger the same capital, liquidity and consumer protection requirements that apply to banks. Those groups have pushed to tighten the bill’s language and have delayed progress on the legislation while seeking changes before any Senate vote.

The coming Senate debate will determine whether the bill’s yield provisions are amended. Revolut has said it is targeting a $200 billion valuation for a planned initial public offering.