JPMorgan Chase has announced the filing of a new trademark application for ‘JPMD’ in the United States, indicating a potential expansion into blockchain and crypto services.
Trademark ‘JPMD’ and Its Implications
The filing made with the US Patent and Trademark Office outlines a wide range of crypto-related services, including digital asset trading, exchange, transfer, and payment processing.
Possible Stablecoin Launch
While the term ‘stablecoin’ was not mentioned, prior reports indicated that JPMorgan and other major banks are considering launching a joint stablecoin. Experts are speculating on the possible connection between this trademark filing and the stablecoin.
JPMorgan's Activity in the Blockchain Space
Despite CEO Jamie Dimon's critiques of Bitcoin, JPMorgan has actively engaged in blockchain technology. The Kinexy platform has processed over $1.5 trillion in blockchain-based payments using JPM Coin, a private stablecoin pegged to the US dollar, British pound, or euro.
Such initiatives reflect the increasing interest of major banks in crypto technologies and stablecoins, which may significantly alter the financial landscape.
