Binance Says JP Morgan Coin Can Be A Stepping Stone To Crypto's Mass Adoption.

If you are watching crypto industry news it should now be a common knowledge to you that JP Morgan has launched their own crypto coin call JPM coin. But what is more interesting is that Binance's take on the issue, Binance actually believed that it would help the industry and even call it as a "stepping stone for its mass adoption".

JP Morgan's CEO Jamie Dimon has a number of times been antagonistic to the prospect of Bitcoin or other crypto to be used as currency. In fact in many interviews he calls Bitcoin a "fraud" and the crypto community in general are actually expecting a negative impact to any JP Morgan's move in relation to cryptocurrency. Releasing its own coin is even feared by a number of enthusiasts to compete with what Ripple does and that knowing the volume of daily transactions JP Morgan has($6 trillion) can indeed be a serious threat to the industry. However Binance has a different outlook on it, and in fact welcomes it by saying:

“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 crypto asset industry in the long run.”

For more details, check out the article here: https://www.ccn.com/binance-jpmorgan-token-a-step-to-crypto-adoption

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