JPMorgan Chase: Tokenized treasury bond will challenge stable currency, but will not completely replace stable currency

Odaily Planet Daily News JPMorgan analysts said that the tokenized treasury bond bond market is growing, and the tokenized US treasury bond bond, as a yield substitute for the stable currency, is being favored and may challenge the dominant position of the stable currency. However, analysts pointed out that regulatory restrictions and liquidity problems indicate that token treasury bond may only partially replace stable currency. Analysts say that major stablecoin issuers such as Tether (USDT) and Circle (USDC) do not share reserve earnings with users, which not only reduces their income but also classifies stablecoins as securities. Analysts point out that this classification will subject them to strict regulatory oversight, which may limit their use as collateral in the cryptocurrency market. （TheBlock）