Binance’s research wing recently published a detailed study regarding JPMorgan Chase’s newly announced stablecoin — the JPM token.
As per the study, the intrinsic purpose of the the digital coin is to serve as a medium of exchange within JP Morgan’s native financial channels rather than provide direct competition to Ripple's XRP token.
JPMorgan Chase had announced the launch of its above mentioned crypto offering early last month and the JPM token will have its value pegged to the US Dollar in a ratio of 1:1.
For more about the study and other key takeaways from the report visit the news source: