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Global investment bank JP Morgan sees little demand for cryptocurrencies as a payment method. However, the bank noted that cryptocurrencies are getting bigger and bigger in the gaming sector, including the Metaverse.
In an interview with Bloomberg Television this week, Takis Georgakopoulos, global head of payments for JP Morgan’s Corporate and Investment Bank division, discussed customer demand for cryptocurrencies as a payment method. . He said:
Let’s say six months ago there was a lot of demand from clients. I can barely see it now.
Georgakopoulos noted that the demand for cryptocurrencies as a payment tool has dropped significantly, but stressed that banks will continue to support customers who want to use cryptocurrencies for this purpose.
He added that cryptocurrencies are “getting bigger and bigger” in the gaming sector as well.In both traditional games and the metaverse, he sees many opportunities.
This week, JPMorgan CEO Jamie Dimon also repeated His skepticism about Bitcoin and cryptocurrencies. I am skeptical of crypto tokens called currencies like Bitcoin. They are decentralized Ponzi schemes, said the executive. However, he emphasized that he is not skeptical about blockchain and decentralized finance (defi), calling them “real” innovations.
A recent study conducted by Deloitte in partnership with Paypal found that Over 85% of merchants We make enabling cryptocurrency payments a high or very high priority, adding, Nearly three-quarters of those We are reporting that we plan to accept payments for
another survey by bank of america It indicated a growing interest in using crypto as a payment method. His 39% and his 34% of respondents reported using cryptocurrencies/digital assets respectively as a payment method to make purchases online or in person, the bank explained. doing. Additionally, 49% and 53% of respondents expressed an interest in using virtual currency/digital assets to make purchases online or in person, respectively.
What are your thoughts on JP Morgan saying there is little demand for cryptocurrencies as a payment tool? Let us know in the comments section below.
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