Binance study: JPM Coin will not be able to compete with XRP

Analysts found out that the recently presented JPM Coin stablecoin is intended only for settlements between financial institutions. This coin is based on the Quorum private blockchain, which is based on the public Ethereum protocol.

On the other hand, we have cryptocurrencies, that use Ripple technology. These coins are positioned as an intermediary between fiat money and cryptocurrency. It gives them a distinct advantage because the scope of use is much broader.

However, due to the fact that JPM Coin's assets amount to about $ 2.6 trillion, a stablecoin can become the largest on the blockchain, and its capitalization - a record holder in its niche.

Also, Binance researchers believe that the JPMorgan coin can significantly increase the efficiency of financial services by providing them with speed and lower cost. At the same time, stablecoin will be able to influence the market in the short term.