The CEO and Chairman of JP Morgan Chase Jamie Dimon on a panel at a conference hosted by the Institute of International Finance in Washington said that even though Facebook's Libra stablecoin was "a neat idea," the asset will never happen, Bloomberg reports.
"It was a neat idea that'll never happen. And I have nothing else to say about it," said Dimon.
The JP Morgan Chase CEO also noted that the idea wasn’t "particularly unique" and mentioned the bank's own stablecoin, JPM Coin.
Previously Jamie Dimon made it clear that Facebook’s Libra stablecoin doesn’t pose a threat in the short-term period. In the meantime, finance officials of the G20 leaders have agreed on strict regulations over digital assets such as Facebook's Libra stablecoin.
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