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JPMorgan: Regulatory agencies outside the US prefer tokenized bank deposits over stablecoins.
According to Mars Finance, JPMorgan analysts state that regulatory agencies in multiple countries, including the Bank of England, tend to support non-anonymous tokenization of bank deposits rather than stablecoins, as the former settles at face value and aligns more with the “uniqueness” principle of fiat. Although stablecoins still have advantages in liquidity and convenience, JPM is also testing a licensed token deposit product called JPMD on Base. (TheBlock)