JPMorgan: Regulators outside the U.S. prefer “tokenized bank deposits” to stablecoins

JPMorgan Chase analysis suggests that regulators outside the United States are more inclined to support tokenized bank deposits rather than stablecoins. The Governor of the Bank of England stated a preference for bank-issued tokenized deposits over their own stablecoins. Non-custodial deposits can be settled at face value, which helps maintain "monetary singularity" and is considered to have more regulatory advantages. JPMorgan Chase has tested its permissioned deposit token project JPMD on Base Layer 2 and submitted a related trademark application in June. (TheBlock)