Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » JP Morgan Chase CEO – Facebook’s Libra is ‘A Neat Idea That Will Never Happen’

JP Morgan Chase CEO – Facebook’s Libra is ‘A Neat Idea That Will Never Happen’

Kelly Cromley by Kelly Cromley
Oct 19, 2019
in Market News, News
Reading Time: 2 mins read
0

Jamie Dimon, CEO of JP Morgan Chase, has issued yet another controversial statement about cryptocurrencies.

Dimon opined that the stablecoin Libra planned to be launch by Facebook is “a neat idea that will never happen.”

Dimon issued the aforementioned comments while speaking at the Institute of International Finance conference which took place on October 18.

Dimon stated that the plan behind Libra is not distinct and then diverted the talk by mentioning about his institution’s stablecoin JPM Coin, disclosing that JPMorgan intends to spend over $11 billion on innovations in 2019.

Dimon thus reinforced his earlier opinion of calling Libra to be of no threat to JPM Coin in the near future. The CEO had earlier stated that “to put it in perspective, we have been talking about blockchain for seven years and very little has happened. We are going to be talking about Libra three years from now.”

The JPM Coin is already used for three purposes, as per the company’s head of blockchain ventures, Umar Farooq.

They are cross-border payments for large corporate customers, which currently depend on wire transfers offered by networks such as SWIFT, securities dealings and usage in JP Morgan’s treasury facilities business to substitute the funds held by firms in various sister concerns across the globe.

Earlier this month several founding members of Libra Association deserted the venture. This includes Visa, Stripe, eBay, PayPal, Mastercard and Booking Holdings. The enterprises withdrew from the Libra venture because it is “not up to par” with American Anti-Money Laundering standards.

Lael Brainard, a member of the Federal Reserve’s board of governors, stated that Libra could become a threat to customers as there is lack of lucidity over their prerogatives with regards to the coin’s underlying assets and the overall system.

Previous Post

London’s Archax Digital Sec. Exchange to Employ R3’s Corda for Post-Trade Management

Next Post

Binance.US Offers FDIC Insurance Cover On Dollar Deposits

Related Posts

Ripple and SEC Press Judge Torres to Approve Settlement Ending XRP Case

Ripple and SEC Press Judge Torres to Approve Settlement Ending XRP Case

by Mostafijur Rahman
Jun 19, 2025
0

After nearly four years of legal battles, Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly submitted...

hedera-partners-with-binary-holdings

Hedera Teams Up with The Binary Holdings for Southeast Asia Push

by Kelly Cromley
Jun 19, 2025
0

The Hedera Foundation has announced a significant partnership with The Binary Holdings, a leading Web3 distribution infrastructure firm, to bring...

zerohash-supports-polkadot-assets

Zerohash Expands Support for Polkadot-Based Assets

by Kelly Cromley
Jun 19, 2025
0

Zerohash, a prominent infrastructure provider in the digital asset space, has officially announced the extension of its platform capabilities to...

fc-barcelona-unveils-web3-wallet-barca-pass

FC Barcelona Unveils Web3 Wallet Barça Pass to Elevate Global Fan Engagement

by Kelly Cromley
Jun 19, 2025
0

FC Barcelona has launched its first official Web3 wallet, known as Barça Pass, marking a significant step in integrating blockchain...

antix-partners-with-gain-ventures-to-accelerate-web3-growth

Antix and Gain Ventures Join Forces to Accelerate Web3 Growth

by Kelly Cromley
Jun 19, 2025
0

Aiming to shape the next wave of innovation in decentralized technology, Antix has unveiled a new strategic partnership with Gain...

trusty-blockchain-platform-for-agri-food-supply-chain-tracking

Blockchain Boosts Cocoa Traceability Amid EU Sustainability Push

by Kelly Cromley
Jun 19, 2025
0

In response to the mounting regulatory pressures within the European Union, particularly around sustainability and deforestation, a Bologna-based startup named...

Next Post
Binance.US Offers FDIC Insurance Cover On Dollar Deposits

Binance.US Offers FDIC Insurance Cover On Dollar Deposits

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

Ripple and SEC Press Judge Torres to Approve Settlement Ending XRP Case
Market News

Ripple and SEC Press Judge Torres to Approve Settlement Ending XRP Case

by Mostafijur Rahman
Jun 19, 2025
hedera-partners-with-binary-holdings
Market News

Hedera Teams Up with The Binary Holdings for Southeast Asia Push

by Kelly Cromley
Jun 19, 2025
zerohash-supports-polkadot-assets
Market News

Zerohash Expands Support for Polkadot-Based Assets

by Kelly Cromley
Jun 19, 2025
fc-barcelona-unveils-web3-wallet-barca-pass
Market News

FC Barcelona Unveils Web3 Wallet Barça Pass to Elevate Global Fan Engagement

by Kelly Cromley
Jun 19, 2025
antix-partners-with-gain-ventures-to-accelerate-web3-growth
Market News

Antix and Gain Ventures Join Forces to Accelerate Web3 Growth

by Kelly Cromley
Jun 19, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
  • XRP
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree