JPMorgan Chase, the world’s largest bank, appears to be preparing to launch a new stablecoin called “JPMD.” In an application filed with the United States Patent and Trademark Office (USPTO), the bank is seeking to register the JPMD brand to cover areas such as digital asset trading, transfer, payment services, electronic funds transfer, securities brokerage, instant token trading, custody services, and secure online financial transactions.
JPMorgan stands out as one of the early adopters of blockchain technology among major financial institutions. The bank uses blockchain in many areas, from payment services to data transfer, and also provides services to major cryptocurrency exchanges such as Coinbase.
However, JPMorgan CEO Jamie Dimon is known for his distance from cryptocurrencies. Speaking at the investor day held in May, Dimon made it clear that he is not a fan of Bitcoin, saying, “I don’t think we should smoke, but I will defend your right to smoke. I will also defend your right to buy Bitcoin.”
By 2025, major banks have begun expanding their services to crypto assets, driven by increased customer demand and a more favorable regulatory environment. Last month, Bloomberg reported that JPMorgan rival Morgan Stanley was planning to add cryptocurrency trading to its E*Trade platform.
*This is not investment advice.
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