The token, which will soon release one of the world's largest investment banks, JP Morgan, may receive consumer application. This means that JPM Coin can go beyond the bank and become available to all traders.
This statement in an interview with CNBC was made by the CEO of the financial organization, Jamie Dimon. He clarified that the token in the future could be used for retail payments.
"JP Morgan Coin will become the domestic currency of the bank, but one day it can turn into commercial – or consumer."
When a token can be made available to a wide range of users, and not just bank customers, Dimon did not specify. It seems that the statement of the top manager of a financial organization suggests that it should no longer be considered a cryptoscope.
JP Morgan announced the release of its own token in mid-February. It is assumed that the digital asset will be provided by the dollar in a one-to-one ratio and will be available only to bank customers for internal settlements.
Many participants in the crypto-industry were skeptical about the bank’s initiative. Several analysts have called the token meaningless, but noted that a financial institution can bypass Ripple with its program of connecting banks to its cross-border settlement system.
Publication date 27.02.2019
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