Facebook's Libra Is A "Neat Idea That Will Never Happen", Stated JP Morgan

Facebook's Libra Is A "Neat Idea That Will Never Happen", Stated JP Morgan
JP Morgan: Facebook's Project Libra Is A "Neat Idea That Will Never Happen", Image Credit: CNBC News
In a conference hosted in Washington on October 18, Jamie Dimon, CEO of JP Morgan, described Libra as not particularly unique and turned the focus to his own firm's stablecoin, JPM Coin. 

The bank will be spending 11 billion USD on technological developments this year. Dimon rejects any threats that Libra can possess in the future, specifying that it will still only be talked about and not executed.


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