Traditional banks are competing to lay out stable coins. Damon, CEO of JPM, said: We must actively participate in cryptocurrency payment technology.

In the rapidly developing field of encryption payment technology, even traditional financial giants have to get involved. According to the Wise Finance APP, Jamie Dimon, CEO of the largest bank in the United States, JPMorgan Chase (JPM.US), said during the financial report conference call that although he personally does not understand the appeal of stablecoins, JPMorgan Chase cannot stand by and must actively participate.