JP Morgan seems to be convinced that cryptocurrency will be a good investments. That is why it was easy to change his mind and create his own coin. He has a positive outlook throughout of his studies about crypto. Therefore, he has a critical expressions about bitcoin before, here he is now. Already a part of this kind of technology promoting his own crypto coin and supporting bitcoin.
I would just modify the word 'cryptocurrency' to 'blockchain technology' and the sentence will be more appropriate...
They think about using the blockchain technology to support their digital fiat system (banking backend) and because they already developing something in connection with the blockchain technology, they have to somehow 'sell' it to the customers (and the shareholders). The customers (and / or the shareholders) won't care about the backend development, because they are not interested. But if they say that they start to create a brand new and shiny own stablecoin based on the blockchain technology, customers and / or shareholders will be happy to buy this development idea, customers will trust the bank even more, and shareholders will wote for the development, because of this shiny marketing stuff....
And they don't really care about bitcoin, unfortunately...