Stablecoins have become popular as the focus has shifted from the speculative nature of cryptocurrencies to the incredible advantages of financial transactions leveraging blockchain technology, which are fast, inexpensive and efficient.
The financial industry has shown interest in digital coins and blockchain, aiming to utilize tamper-proof digital ledger technology. Recently, US-based investment bank JP Morgan announced that it is launching its own “stablecoin" in order to facilitate the settlements of payments between clients, a move that puts the rest of the industry on notice. “Stablecoin” is…