The JPMorgan CEO Jamie Dimon has emphasized that stablecoins might be much more effective in relation to international payments, compared with the existing systems.
His remarks are an indication of a significant change in the attitude of the traditional finance to digital assets.
As indicated by Dimon, stablecoins have lower transaction friction and settle faster, which is why they are a strong choice of cross-border transfer. This efficiency has the potential of redefining the international payment infrastructure when implementation is persisting.
It is also indicative of the growing convergence between large banks and the crypto sector as his claim indicates that more and more payment railways are needed quicker and cheaper. Stablecoins are taking a center stage in that discussion.
Altogether, the statements of Dimon support the notion that digital assets and stablecoins, in particular, are on the verge of becoming part of the mainstream of financial integration, and international payments are probably one of the first fields that have to be changed.
