JPMorgan Chase has filed a trademark application related to a new blockchain asset called 'JPMD'. This move could suggest the bank's plans to launch a product similar to a stablecoin.
Details on the Trademark Filing
The filing was submitted to the U.S. Patent and Trademark Office on Sunday and outlines a comprehensive digital asset platform covering trading, transfers, brokerage, clearing, and electronic payments using blockchain technology. Although the term 'stablecoin' is not explicitly mentioned, the broad scope of the application strongly hints at it.
Expansion of JPMorgan's Digital Infrastructure
This move comes as JPMorgan expands its digital asset infrastructure, particularly through its rebranded Kinexys platform, formerly known as Onyx, which supports JPM Coin — a blockchain-based system for interbank settlements in U.S. dollars, euros, and pounds. The platform has reportedly handled over $1.5 trillion in transactions and averages $2 billion in daily flows.
Prospects for a New Stablecoin
JPM Coin functions much like a stablecoin, offering near-instant settlement for institutional clients. The newly trademarked JPMD could point to a broader product, possibly aimed at external partners or even the retail market, though the bank hasn’t confirmed any such plans.
The filing of the JPMD trademark also comes at a time when U.S. regulators appear to be softening their stance on stablecoins, which may open new avenues for bank projects in the field of digital currencies.
