U.S. Stablecoin Battle Could Be Zero-Sum Game: JPMorgan

According to a recent analysis by JPMorgan, the ongoing competition surrounding stablecoins in the United States might ultimately result in a zero-sum game, where the gain for one participant in the market comes at the expense of another, inhibiting overall growth and innovation in the sector. This perspective highlights the challenges and complexities of the regulatory environment and market dynamics, suggesting that without collaboration or a coordinated approach, the competing interests may lead to a fragmented landscape that limits the potential benefits for all involved. source: https://www.coindesk.com/markets/2025/09/19/u-s-stablecoin-battle-could-be-zero-sum-game-jpmorgan