According to Odaily, JPMorgan analysts have indicated that several regulatory bodies, including the Bank of England, are favoring tokenized bank deposits over stablecoins. This preference is due to tokenized deposits settling at face value and aligning more closely with the principle of fiat currency singularity. Despite stablecoins offering advantages in liquidity and convenience, JPMorgan is currently testing a permissioned token deposit product named JPMD on the Base platform.