On the 16th (local time), JPMorgan Chase filed a trademark application with the United States Patent and Trademark Office (USPTO) to disclose that cryptocurrencies will be used for a wide range of purposes, including trading, exchanging, transferring, clearing and settling digital assets.
The range of services is part of JPMorgan Chase's move to transform its financial services into a blockchain-based platform.
The industry has interpreted this as a signal of a move into diversifying cryptocurrency services, including the possible launch of stablecoins.
Although the term "stablecoin" is not explicitly stated in the trademark application, a May 22 report by The Wall Street Journal (WSJ) said that JP Morgan
Major US banks including Bank of America and Wells Fargo are considering launching a joint stablecoin.
The bank is reportedly introducing digital assets that can compete directly with existing crypto-based stablecoins as a strategic tool to process everyday payments and international remittances faster.
The timing of the "JPMD" trademark application coincides with this report, leading to speculation that the two cases are linked.
JP Morgan CEO Jamie Dimon, who has been critical of Bitcoin,
Unlike Dimon, JPMorgan Chase has shown steady interest in the technology itself.
In fact, Kinexy (formerly Onyx), a subsidiary of Onyx, is offering cryptocurrency exchanges in US dollars, pounds, and other currencies through its proprietary JP Coin.
Utilizing a private stablecoin pegged 1:1 to the euro, the company has already processed more than $1.5 trillion in blockchain-based interbank payments.
Meanwhile, the global business for corporations is operated as "JP Morgan," while the domestic business for small and medium-sized businesses and individuals is operated as "Chase."
2025/06/17 12:39 KST
Copyright(C) BlockchainToday wowkorea.jp 118