JPMorgan Chase Files for Blockchain-related trademark files, Stablecoin plans are surmised
The country’s largest banks have applied for trademarks related to digital currency with the US Patent and Trademark Office (USPTO). The move has led to speculation that the JPMD application reflects an increasing interest in banks. stablecoins– A type of cryptocurrency designed to maintain value along the US dollar.
application Submitted by jpmorganchase According to the USPTO website, it was June 15th. This application lists “JPMD” as a good or service that offers “transaction, exchange, transfer, and payment services of digital assets,” among other categories related to cryptocurrency and blockchain technology.
The bank has not confirmed its intention to launch a new cryptocurrency, but some people have x Users believe that “JPMD” is a reference to future Stablecoin offerings. “It contains Stablecoin by JPMorgan,” one user wrote post X. “”$ jpmd It’s a ticker. ”
Another X user I wrote it“The world’s largest bank that employs Stable Coin is your signature to keep Ultra bullish.”
Social media posts did not provide additional evidence regarding the bank’s plans, and JPMorganchase did not immediately respond to requests for comment from luck.
Speculation comes amid a renewed interest in stubcoin as President Donald Trump accepts the industry. Many companies are looking for ways to implement Stablecoins, often used to resolve cross-border transactions and protect Fiat currency in payment infrastructure to protect its payments infrastructure.
March, Fidelity, Asset Manager announcement We were “actively testing” Stablecoin, but at this point we had no plans to launch any products.
last month, Wall Street Journal JPMorganchase reported that he was involved in the conversation Bank of America, Citigroup, Wells Fargo And other commercial banks on the possibility of issuing joint stubcoins, citing people familiar with the issue.
Companies outside the financial world are also considering stubcoin. In May, luck It has been reported That Mark Zuckerberg Meta In consultation with Crypto companies, we integrated Stablecoins to manage payments. Earlier this month, luck It has been reported In addition to meta, applex, airbnb and Google Everything was investigating the use of stubcoin.
Whether “JPMD” is Stablecoin or other types of cryptocurrency, it is not the bank’s first foray into the digital assets sector. JPMorgan has been released JPM CoinCryptocurrency used in banks’ wholesale payment business, 2019. announcement In 2023, JPM Coin was processing $1 billion in transactions every day.
Until recently, JPMorganchase CEO Jamie Dimon has done a Stubborn critic of the crypto industry. In 2021, Dimon called Bitcoin, the most popular cryptocurrency, “no worth.” In 2023, he told Congress that the only true use case of code was for “criminals, drug traffickers… money laundering, tax avoidance.”
But as the US regulatory environment warmed to the idea of digital assets, Dimon changed his songs. Last month, Dimon announcement JPMorganChase will allow clients to purchase Bitcoin But they don’t detain it.
This story was originally introduced Fortune.com