JPMorgan co-president says institutional demand for stablecoins remains at an early stage

  • Doug Petno said institutional demand for blockchain and stablecoins remains at an early stage, with little demand outside crypto trading.
  • USDT has a market value near $183 billion, while the overall stablecoin market totals about $311 billion.
  • J.P. Morgan Global Research expects the stablecoin market to reach $500 billion to $750 billion, below some forecasts of $2 trillion.

JPMorgan co-president Doug Petno said institutional demand for blockchain and stablecoins remains nascent, citing interoperability gaps, regulation and know-your-customer requirements and little demand beyond crypto trading. Tether CEO Paolo Ardoino mocked the assessment, while market data and JPMorgan research show substantial existing stablecoin activity and differing expectations for future growth.

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