Stablecoin JPM Coin from the financial holding JPMorgan is able to destroy Ripple, which specializes in cross-border payments, said bloombergtv editor Joe Weisenthal. WhalePanda agrees with Wiesenthal. According to him, if you listen carefully, you can hear “how Ripple coin-holders scream in agony.” However WhalePanda called JPM Coin a “useless shitcoin”. The new initiative from JPMorgan has found a response among other well-known representatives of the crypto community. So, the self-proclaimed Satoshi Nakamoto Craig Wright wrote that he had a patent allegedly able to limit the right to issue JPM Coin. CEO Ripple Brad Garlinghouse also responded to JPMorgan’s plans. He believes that there is no sense in cryptocurrencies issued by banks. In his opinion, yhis approach is complete nonsens, because if banks want to make deals with each other, they will have to exchange their unique digital currencies for fiat. Note that smaller financial institutions also have the plans to release their own digital assets. Thus, representatives of the New York bank Signature said that they had been using solutions based on Ethereum from the Signet platform, which allows to instantly transfer stablecoins tied to the dollar, for several months. The system is used by more than 100 people, who’s accounts have more than $250000 each. Earlier, the head of JPMorgan Chase Jamie Dimon has repeatedly criticized bitcoin. However, it soon became known that the financial holdin was creating its own crypto-currency strategy. |
