Binance: JPMorgan Token a 'Stepping Stone' to Mass Crypto AdoptionDollar Destruction | Dollar Destruction
BINANCE ARGUES JPMORGAN'S DUBIOUS CRYPTO PROJECT WILL SPUR REAL ADOPTION n a new article from Binance Research, one of the world's largest cryptocurrency exchanges deems JPM Coin a "stepping stone" toward mass adoption. By exposing large clients to a private blockchain structure, JPMorgan will indirectly increase interest in the wider crypto industry. "The rise of this third generation of stablecoins may only be an intermediate stepping stone for cryptocurrency mass adoption. Stablecoins running on private blockchains will contribute to increasing awareness of the rest of the blockchain and cryptoasset industry in the long run." The question they set out to answer, whether or not JPM Coin can disrupt the stablecoin market, comes back as "very unlikely." "It is very unlikely that JPM Coin will disrupt the existing stablecoin industry in the near term owing to its permissioned, private nature. Currently, stablecoins issued by banks are designated to serve a specific purpose and as a