Blockchain is disrupting the banking space, IMF managing director says

Christine Lagarde, managing director of International Monetary Fund, believes blockchain innovators are shaking up the banking space, she shared in an interview with the CNBC. Lagarde, referring to fintechs and blockchain projects as disruptors, said they are having a clear “impact on the incumbents.”

The influence can be seen in JPMorgan Chase’s venture into issuing its own stablecoin, Lagarde said. Similarly, Lagarde pointed to the European Central Bank’s TARGET Instant Payment Settlement (TIPS) project launched last autumn. TIPS allows European banks and individuals to transfer large sums of money at “virtually no cost.”

Original source

Add comment

Please Sign in to be able to leave comments.