JPMorgan doubts institutional stablecoin demand, Tether CEO responds with mockery
- —Petno: institutional interest in stablecoins is still nascent due to interoperability, regulatory and KYC issues
- —JPMorgan estimates the stablecoin market at $500–750 billion versus forecasts of up to $2 trillion
- —USDT's market cap is about $183 billion; all stablecoins total roughly $311 billion
- —JPMorgan is developing its Kinexys blockchain unit with tokenized deposits instead of a public stablecoin
Why it matters: The dispute reflects the rift between TradFi and the crypto industry over institutional stablecoin demand, which shapes market growth forecasts.
Source: BeInCrypto