Recently, JP Morgan launched its own stablecoin, and institutional investors and crypto enthusiasts are wondering if this endorsement is the missing link that could move the industry toward widespread adoption.
Greg Tusar, CTO and co-founder at institutional crypto brokerage Tagomi, former Partner and Global Head of Electronic Trading at Goldman Sachs, comments
At Tagomi, We are currently assessing which stable coins to include on our platform and to use for settlement with our liquidity partners. We are very excited for the potential of JPM and the client base who will gain knowledge about digital assets from using JPM Coin.
It is especially heartening to see this announcement from a firm like JPM that has devoted tremendous resources to research the benefits of blockchain technology and has gone from healthy skepticism to a believer in the potential of the technology for speedy and efficient settlements.
We commend JP Morgan for taking this first step, and for their willingness to back the results of their R&D with a real token – even if it is only going to be used for internal operations.
JPM’s announcement is also exciting from a regulatory perspective, because when public companies like Square and JPM get involved in digital assets, it signals to regulators that other players will likely get involved and there is legitimate interest for a variety of use cases.”
About Greg Tusar
Greg Tusar is Co-Founder and CTO of institutional crypto brokerage Tagomi. Prior to founding Tagomi, Greg was Head of Institutional Trading and Wholesale Market Making at KCG and was previously Partner and Global Head of Electronic Trading at Goldman Sachs. Prior to that, he was a limited partner at Spear, Leeds, and Kellogg (SLK), when Goldman Sachs acquired the firm in 2000. He started his career at TLW Securities in 1992, scaling the company from 4 to 70 employees, prior to its acquisition by SLK in 1999.