Cryptocurrency Will Play a Role in Future: JPMorgan Co-President
Co-President of JPMorgan Chase Daniel Pinto, the National Bank of Canada, has confirmed that the bank was considering trading Bitcoin futures which it has thus far refused to do even as trading volumes for these products have soared. Jerry stated that in the future, cryptocurrency “will play a role.”
Pinto made this revelation during a wide-ranging interview with CNBC, explaining that although the firm is not optimistic about cryptocurrency in its current incarnation, it believes this technology will “play a role” in the financial system moving forward.
“We are looking into that space. I have no doubt that in one way or another; the technology will play a role. (Regarding bitcoin), you cannot have something where the business proposition is to be anonymous and to be the currency for unknown activities. That will have a very short life, because people will stop believing in it, or the regulators will kill it.
Jerry also envisaged a future in which the world economy would witness a mainstream entry of cryptocurrency. He said:
“The tokenization of the economy, for me, is real. Cryptocurrencies are real but not in the current form.”
JP Morgan Chase & Co is an American based investment banking firm that is headquartered in New York and are considered to be one of the biggest and most influential investment banking firms in the world.
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