PANews reported on April 7th that, according to CoinDesk, JPMorgan CEO Jamie Dimon stated that stablecoins, smart contracts, and asset tokenization pose a direct competitive threat to traditional banking. He described these new financial infrastructures as "head-on competition" with banks in areas such as payments and settlements, and emphasized that JPMorgan Chase must accelerate its own blockchain and related technology deployment to address the challenges from the crypto and on-chain financial systems.