The country’s largest bank has applied for trademarks related to the United States Patent and Trademark Office (USPTO). The move led some to speculate that the application of “JPMD” reflects the bank’s Stable– A cryptocurrency type designed to maintain value consistent with the US dollar.
this application Is it from jpmorganchase According to USPTO’s website, June 15. The application lists “JPMD” as a commodity or service that will offer “transaction, exchange, transfer and payment services for digital assets”, as well as other categories related to cryptocurrencies and blockchain technology.
Although banks have not confirmed their intention to initiate a new cryptocurrency, some x Users believe that “JPMD” is a reference to the upcoming Stablecoin product. A user is postal On X. ”$ jpmd It’s stock. ”
Another X user Write“The world’s largest bank embraces Stablecoin is a sign that you stay super optimistic.”
Social media posts provide no other evidence about the banking program, and Morgan Stanley did not respond immediately wealth.
Since Donald Trump has mastered the industry, interest in stablecoins has been updated, so speculation is out of renewed interest. Many companies have been exploring ways to implement Stablecoins, which are often used to address cross-border transactions and protect Fiat currency from inflation to access their payment infrastructure.
In March, the Asset Manager is loyal Announce This is an “active test” stablecoin, but there are currently no plans to launch the product.
last month, Wall Street Journal Report JPMorganChase participated in the Bank of America,,,,, Citigroup,,,,, Wells Fargo As well as others familiar with the matter, other commercial banks may issue joint signatures.
Companies outside the financial sector are also considering stable companies. in May, wealth Report That Mark Zuckerberg Yuan Talks are being held with cryptocurrency companies to integrate Stablecoins to manage spending. Earlier this month wealth Report Apart from meta applex, airbnb and Google We are all exploring stable use.
Whether “JPMD” is stable or other types of cryptocurrencies, it is not the first attempt by banks to have a digital asset space. JPMorgan launches JPM Coinsa cryptocurrency used in bank wholesale payment business in 2019. The company Announce In 2023, JPM coins process $1 billion in transactions per day.
Until recently, JPMorganChase CEO Jamie Dimon has been A firm critic Cryptocurrency industry. In 2021, Dimon is called Bitcoin and is the most popular cryptocurrency and “worthless.” In 2023, he told Congress that the only real use case for cryptocurrencies is “criminals, drug traffickers…money laundering, tax avoidance.”
But as the regulatory environment in the United States feels warm about the idea of digital assets, Dimon changed his tune. Last month, Dimon Announce jpmorganchase will allow customers to purchase Bitcoin But it won’t be detained.
This story was originally fortune.com
