Jamie Dimon, head of a major us Bank JPMorgan Chase, said that “Libra is a great idea that is not destined to come true.”
During his speech at the Institute of international Finance conference in Washington, Dimon recalled that his company has developed and has been using the JPM Coin stablecoin for quite a long time.
According to him, unlike Libra, which is aimed at ordinary users, JPM Coin is used for corporate interbank payments. This is why regulators are so partial to Libra, while attention to JPM Coin is almost nonexistent.
Recall that recently several key participants left the Libra Association, due to concerns that regulators may put pressure on their own business.
Dimon is known for his constant criticism of bitcoin, but in June of this year, he said that cryptocurrency projects do not pose any threats to the banking business.
“Every day we move about $6 trillion around the world. Moreover, the banking system is able to make payments cheaply, safely, reliably and in real time. We have had all this for a long time,” he said.