Doug Petno, co-president of JPMorgan, stated on X that institutional demand for blockchain and stablecoins is still in its early stages, according to BeInCrypto. He said, "Beyond crypto trading, there is no clear institutional demand for stablecoins. Interoperability, regulation, and KYC seem to be obstacles." In response to the X post, Tether CEO Paolo Ardoino sarcastically retorted, "It's like saying there isn't much demand for importing ice from the North Pole."
