The banking giant is exploring an expansion of its blockchain services, focusing on digital payments and currencies.
JPMorgan Chase has filed a new trademark application for the name “JPMD.” The filing was submitted on June 15 to the United States Patent and Trademark Office (USPTO).
The application, filed by JPMorgan Chase Bank, N.A., covers a broad range of services related to digital assets and blockchain technology. These include the issuance of digital currencies, electronic payment processing, and financial custody services — all of which suggest a possible new stablecoin initiative for JPMorgan.
Experience with JPM Coin
This move wouldn’t be JPMorgan’s first foray into blockchain-based finance. The bank already operates JPM Coin, a dollar-pegged stablecoin used to enable instant transactions between institutional clients. The token runs on Quorum, a private blockchain network developed in-house by JPMorgan and based on Ethereum’s technology.
The registration of the JPMD trademark comes as JPMorgan and other major U.S. banks are considering a collaborative stablecoin project through their jointly owned entities: Early Warning Services and The Clearing House.
Similarly, corporations like Walmart and Amazon are mulling the creation of their own stablecoins.
