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JP Morgan is the First Bank to Launch a Stablecoin. This project is huge because: * It removes the trust issues around if there really is one US dollar held for each stable coin that has been minted. * JP Morgan is an entity that regulators can regulate, they have a $2.6 Trillion balance sheet and spend approximately $800M a year on cyber security. * Everyone in the network will have done Anti Money Laundering (AML) and Know Your * Customer (KYC) checks. * Conveyancers could be replaced with a smart contract and lands title office integration. * A regulated stabled coin makes supply chain payments with smart contracts less risky. The three use cases for the new coin initially are: * international payments without wire transfers * securities transactions * treasury services Read more: https://hackernoon.com/jp-morgan-just-became-the-first-bank-to-launch-a-stable-coin-16c924a9b36f #jpmorgan #stablecoin #cryptocurrency
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