According to the head of the largest Bitcoin exchange Binance Changpen Zhao, thanks to cryptocurrency companies can do without banks.

The other day, JPMorgan Chase spokesman Ron Karpovich expressed the opinion that cryptocurrency companies in any case are forced to use the services of banks. Karpovich added that participants in the digital asset market should perceive financial institutions as their partners, not competitors.

Zhao objected to the opinion of a representative of a large financial holding. He noted that many companies, and not so small, do very well without banks:

Now, we can't agree. Many (not so small) businesses are just fine.

JPM just don't get it, yet. (also for a reason they are not a threat to #XRP )

Everyone will be in crypto. JPM will ultimately have to use #crypto . https://t.co/duTU7G7mwm

– CZ Binance (@cz_binance) 20 March, 2019 p.

“JPM has not yet understood this yet. This is also the reason why it does not constitute a XRP threat. Everyone will be in the crypt. Ultimately, JPM will use it. ”

Twitter user Does ThisPass asked Zhao if he supports the recent initiative of six large banks that intend to issue IBM Wire based platform products. On this account, the head of Binance replied that the mass adoption of cryptocurrencies is good and that he welcomes any participant in this market.

I just said "everyone will be in crypto." And it’s better to adopt. I never supported or not supported any particular bank.

I would welcome everyone to join crypto, which is inevitable anyway. Better get to it rather than fight it.

– CZ Binance (@cz_binance) 21 March, 2019 p.

“It’s better to use them than fight them ,” Zhao said.

Recall recently that Binance made Bitcoin available at 1,300 newsstands throughout Australia.

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