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Global investment bank JPMorgan is seeing little demand for crypto as a payment method. However, the bank noted that cryptocurrencies are becoming \u201clarger and larger\u201d in the gaming sector, including in the metaverse.<\/strong><\/p>\n The global head of payments for JPMorgan\u2019s Corporate & Investment Bank division, Takis Georgakopoulos, talked about client demand for crypto as a payment method in an interview with Bloomberg Television this week. He said:<\/p>\n We saw a lot of demand for our clients, let\u2019s say up until six months ago. We see very little right now.<\/p>\n<\/blockquote>\n While noting that the demand for crypto as a payment tool has drastically declined, Georgakopoulos stressed that the bank will still support clients who want to use crypto for this purpose.<\/p>\n He added that cryptocurrencies are also becoming \u201clarger and larger\u201d in the gaming sector \u2014 both in traditional gaming and in the metaverse, where he sees many opportunities.<\/p>\n This week, JPMorgan CEO Jamie Dimon also reiterated<\/a> his skepticism about bitcoin and cryptocurrency. \u201cI\u2019m a major skeptic on crypto tokens which you call currency, like bitcoin. They are decentralized Ponzi schemes,\u201d the executive said. However, he emphasized that he is not skeptical about blockchain and decentralized finance (defi), calling them \u201creal\u201d innovations.<\/p>\n A recent survey conducted by Deloitte in collaboration with Paypal found that over 85% of merchants<\/a> \u201care giving high or very high priority to enabling cryptocurrency payments.\u201d In addition, \u201cnearly three-quarters of those surveyed reported plans to accept either cryptocurrency or stablecoin payments within the next 24 months.\u201d<\/p>\nJPMorgan Sees Little Demand for Crypto as a Payment Tool<\/h2>\n
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