"The JP Morgan coin should obliterate Ripple", says Bloomberg editor

15 Feb, 2019
by Alberto Arnaldo
The JP Morgan coin should obliterate Ripple, says Bloomberg editor

The launch of a stablecoin by the largest bank in the U.S.A. is causing reactions across the cryptocurrency space. A Bloomberg editor recently spoke about the possible consequences for Ripple.

On a Twitter thread, @TheStalwart, co-host of a show in Bloomberg TV, exposed some of his arguments against the use of decentralized payment settling solutions in the banking industry:

The volatility associated with assets publicly traded on exchanges, such as XRP, is another of the reasons that the Bloomberg editor mentions for the possible prevalence of the JP Morgan coin over Ripple.

However, the author of the tweet does not seems to believe that cryptos and stablecoins should be seen as competing formats of currency:

One of the main strengths of the new JPM coin will be the ability to instantly settle payments, an area where they will definitely have to test their efficiency against Ripple and other cryptocurrencies. Under the light of this developments, it seems as if a new period of tougher competition on the space of payment processing is starting. 

Read more: What does JPM Coin mean for Ripple and the wider crypto industry?Not everyone is excited about JP Morgan's new crypto effort

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Read more about: JP Morgan Stablecoin


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