JPMorgan Chase CEO: Companies involved in stablecoins are very smart; they are trying to create alternatives to bank accounts

In a conference call transcript from AlphaSense, JPMorgan Chase's Jamie Dimon stated that fintech companies involved in stablecoins are "very smart" and are trying to create an alternative to bank accounts, as well as enter payment systems and rewards programs. Jamie Dimon explained, "JPMorgan Chase has to be aware of this, and the way to be aware is to participate, so we will enter this field, continue to learn, and become a part of it." In June of this year, JPMorgan Chase launched the U.S. dollar deposit token JPMD, allowing institutional clients to conduct digital payments on public blockchains. (Golden Ten) [Odaily Planet Daily News]