JPMorgan has applied for a new trademark in the U.S. called "JPMD" — a move that suggests it may expand its blockchain and cryptocurrency services, further fueling market speculation about a potential stablecoin launch.
JPMorgan submitted the application to the U.S. Patent and Trademark Office on Sunday, detailing a wide range of crypto-related services, including digital asset trading, exchange, transfer, clearing, and payment processing.
This comprehensive list of services indicates that JPMorgan is exploring how to offer more financial services on blockchain infrastructure, which may include stablecoin products.
Although the application does not directly mention the term "stablecoin," a report by The Wall Street Journal on May 22 noted that JPMorgan, along with other major banks such as Bank of America and Wells Fargo, is considering launching a joint stablecoin project.
Many industry experts are actively analyzing the possible connections between this report and the trademark application.
The Wall Street Journal's report suggests that these banks will compete directly with native crypto stablecoin issuers and view stablecoins as strategic tools to accelerate everyday and cross-border payments.
Despite JPMorgan CEO Jamie Dimon publicly criticizing Bitcoin (BTC) multiple times, he has long maintained that blockchain technology can provide valuable applications for financial institutions.
For example, JPMorgan's Kinexy platform (formerly Onyx) has processed over $1.5 trillion in blockchain interbank payment transactions through JPM Coin — a private stablecoin pegged 1:1 to the U.S. dollar, British pound, or euro.
The submission of the JPMD trademark application coincides with the U.S. Senate's decision last week to advance the "Guiding and Establishing U.S. Stablecoin National Innovation Act" (GENIUS Act) with a vote of 68-30.
A majority of senators, including several Democrats, voted in favor of the bill's limited debate procedure, paving the way for a full debate and vote on the bill, which may then be submitted to the House for further consideration.
If both chambers pass the bill, this stablecoin legislation will be sent to President Trump’s desk for formal approval.
According to DefiLlama data, the market capitalization of stablecoins currently stands at $251.7 billion, with Tether (USDT) and Circle's USDC leading the way with market capitalizations of $156.3 billion and $61.3 billion, respectively.
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Original: “JPMorgan Files 'JPMD' Trademark for Crypto Payment Services”
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