JPM coin signals to other banking industries to create digital currencies

JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City.
JPM coin is a coin lauhched by JP Morgan company. The coins is peg to 1 USD. One who use the coin is a JPM customer who pass KYC. The coin is accepted as payment system in banking and corporates that are exclusive to JP Morgan business clients.

JPM coin is claim to be efficient and border less money. It is backed by USD.

What are the influences of JPM coin to cryptocurrency. ? A big institution with large capital has issued its native coin. It is a good signal for cryptocurrency community. Though, the use of JPN coin is limited to business to business, the use of digital currency based on blockchain by formal institution gives good sentiment to cryptocurrency developers and investors. In next few years, there will be more banking industries will create their native coins or tokens based on blockchain technology.

Recent days, banking industries and financial institutions still are still reluctant to use cryptocurrencies. In fact, they know that cryptocurrency and blockchain technology can be a jump to make a bank services more accepted by global market. There are many more people will cryptocurrencies in the coming years. With or without banking industries support, cryptocurrency users will continue to develop and make cryptocurrency as a daily payment system. It is just a matter of time. Many infrastructures in cryptocurrencies have been created from payment gateway, defi, crowdfunding, and hardware wallets with integrated to dex. It is a proof that cryptocurrency is a truly independent financial system.

pic : https://en.wikipedia.org/wiki/JPMorgan_Chase

Banks should get adapted to cryptocurrency not vice versa. In fact, banks will gain larger customers when they want to use cryptocurrencies or issues digital currencies that are tradable. When people can buy a bank coin from excangers, they can use digital currency that should not be changed to fiat when to make transaction.

Living in crypto will be easier with banking coins. Cryptocurrency users can make deposit and withdraw their cryptocurrency assets to a bank account directly from wallet. That is amazing for cryptocurrency development. When is it?

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