JP Morgan report: Libra has potential, but must be redesigned

According to AMBCrypto, a recent JPMorgan Chase report talks about the impact of stablecoins on the market, with Libra as an example. The report points out that stablecoins may be more widely adopted in the field of cross-border remittances and bank settlements, and many banking institutions around the world are seeking to issue their own stablecoins or use the company's stablecoins. The report classifies stablecoins into three categories: asset-backed, sponsored, and algorithmic. Asset-backed tokens derive and maintain their value by being exchangeable for other assets. It also cited a recent report from Blockdata that 95% of the approximately 66 stablecoins currently active use this method; however, at the time of the report's release, there was more diversity among 134 new tokens under development, of which 77% There is also asset support.