Co-President of JP Morgan Chase Daniel Pinto (Daniel Pinto) said that the Bank monitors the cryptocurrency, and the blockchain technology “play a role” in the financial sector. He said this during a CNBC interview.
To the question whether the Bank of cryptocurrency one of the business opportunities and not afraid to lag behind competitors, Daniel Pinto replied:
“We are studying this space. I have no doubt that somehow technology will play a role”.
“Regarding bitcoin: you can’t be something where a business proposal should be anonymous and there are currency for clandestine transactions. These will be a very short life, because this will stop believing people or it will kill the regulators. I believe that the concept is valid, many Central banks are studying it. For me, the real and the tokenization of the economy, and cryptocurrency, but not in its current form”.
Appointed to his post in January, 54-year-old Pinto is considered one of the likely successors of the General Director of JP Morgan Chase Jamie diamon (Jamie Dimon) — a famous criticism of cryptocurrency. Among his statements about bitcoin was the observation that “the government’s going to crush him.”
Competitors JP Morgan do show a greater activity against the cryptocurrency space. For example, Morgan Stanley and Goldman Sachs provide their clients with clearing services for bitcoin. The latter has already announced the launch of trading own cryptocurrency derivatives.
Despite this, Daniel Pinto denied the possibility of the Bank’s operations at least with bitcoin futures, produced by Cboe and CME:
“If we need to carry out the clearing of futures on bitcoin, can we do that? Yes. Are we doing this? No.”