JPMorgan, the largest bank in the United States, is aiming to expand its corporate banking operations in Switzerland and offer blockchain services to its clients, according to Lutz Karl, head of the bank's European operations, in an interview with Reuters.

Karl stated that JPMorgan plans to expand its Swiss business over the next three to five years, aiming to become one of the largest foreign banks in the market, competing with Deutsche Bank, Citigroup, HSBC, and BNP Paribas.