JP Morgan issue a 'coin' that is to be used for internal (with in their bank) a coin to transfers value form one place to another.
With each coin backed by a USA dollar, one has to ask why bother.
Fiat is digital, why not just transfer value internally using usa dollars, why the need for a coin.
Is this akin to a bank printing it's own money?
If it it intended to compete with XRP, then it would need to be able to be used outside of their own company.
And since Swift, the inter bank global system of transfering money is now based on XRP.
What is the banking cartels point in issuing jpm?
Time will tell
https://coingape.com/crypto-community-mocks-jpm-coin-xrp-supporters-fight-back/