JPMorgan Chase, the world's largest bank, is preparing to launch a new stablecoin called JPMD, highlighting its increasing interest in cryptocurrencies.
Filing for JPMD Registration
JPMorgan has filed an application with the United States Patent and Trademark Office for the registration of the JPMD brand. The coin will be used across various areas, including digital asset trading, payment services, electronic funds transfer, and online financial transactions.
Blockchain Adoption by JPMorgan
JPMorgan stands out as one of the early adopters of blockchain technology among major banks. The bank utilizes blockchain in various sectors, serving both traditional clients and cryptocurrency exchanges like Coinbase.
Jamie Dimon's Criticism of Cryptocurrencies
Despite actively utilizing blockchain technology, JPMorgan CEO Jamie Dimon has previously expressed his critical stance on cryptocurrencies. At an investor day event held in May, he stated, "I don’t think we should smoke, but I will defend your right to smoke. I will also defend your right to buy Bitcoin."
JPMorgan's preparation for the launch of the JPMD stablecoin underscores the growing interest of major banks in cryptocurrencies amid changing market dynamics and customer demands.
