Jamie Dimon, head of JPMorgan Chase, a large US bank, said that “Libra is a great idea that is not destined to materialize.”
During his speech at the conference of the Institute of International Finance in Washington, Dimon recalled that his company has developed and has been using JPM Coin stablecoin for quite some time.
According to him, unlike Libra, focused on ordinary users, JPM Coin is used for corporate interbank settlements. That is why regulators treat Libra with such addiction, while attention to JPM Coin is practically absent.
Recall that recently several key participants immediately left the Libra association, because of concerns that regulators might put pressure on their own business.
Dimon is known for his constant criticism of bitcoin, but in June of this year, he announced that cryptocurrency projects did not pose any threat to the banking business.
“Every day, we are moving around the world about $ 6 trillion. Moreover, the banking system is able to make payments cheaply, safely, reliably and in real time. We have already had all this for a long time, ”he said.
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