RATE Group | JP Morgan Exec says Cryptocurrency Industry is a Threat
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JP Morgan Exec says Cryptocurrency Industry is a Threat

22 Jul JP Morgan Exec says Cryptocurrency Industry is a Threat

Posted at 09:12h in Cryptocurrency News by

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Former JP Morgan Exec Says Banks know Cryptocurrency Industry Can Change the WorldBanking institutes across the world are either jumping on the cryptocurrency industry bandwagon or recoiling in horror that someone dares challenge their monopoly on currency creation. A former JP Morgan executive this week pointed out that banks already know that crypto could possibly change the world as we know it and may be too large to react to the changes.

It seems that at some point in the near future banks will have to adopt the tried and tested ethos of “if you can’t beat them, join them.” Some traditional financial institutes have been playing the old “head in the sand” game for too long and are coming around to the potential of the cryptocurrency industry.

Bankers losing the race against the cryptocurrency industry

The game is almost up and the bankers know this. Salvador Casquero, who is the former JP Morgan head of Scandinavian Interest Rates Trading and Head of FX Sales at BBVA, which are two of the largest banking institutes on the…

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