The stablecoin presented by JP Morgan will not be available to the consumer, but it will spark cryptocurrency adaptation. Binance says that the JPM Coin will be an important step toward mass adaptation. This is because it will expose Morgans clients to a private blockchain structure. This will increase interest in the crypto industry beyond their own stablecoin.
It is unlikely that the JPM Coin will disrupt the stablecoin market segment in the short tem, because it will not be available to consumers. The stablecoins currently issued by banks are used for specific purposes only. That is why they do not compete with the existing stablecoins.
One day, JPM Coin could be commercial or for the consumer, however for the short term it’s internal. Presumably it will be used mainly to settle transactions withing the bank’s own holdings.
If JPM Coin does become available to consumers, it will be the biggest stablecoin by market capitalization. JP Morgan moves up to $6 trillion in various assets per day. The total market cap for all stablecoins is below $3 billion. Taking that in consideration, if JPM Coin would put just 1% of their daily average into their coin, it would be double that of the current market.