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The largest bank in the country, the United States patent and trademark (USPTO) applied for a trademark associated with digital currency. The action led to speculation of the appeal for some “JPMD”, reflects the bank’s growing interest stablecoins– Cryptocurrency type designed to protect a value that is compatible with US dollars.
This application given by Jpmorgancchase According to USPTO website on June 15. The application “JPMD will provide” trade, exchange, exchange, transfer services and payment services “between other categories related to crypto and blockade technology, listed” JPMD, which provides services.
The Bank did not confirm the intention of making a new cryptocurrency, some X Users believe that JPMD is a reference to the approaching Stablecoin. “Stablecoin by JPMorgan,” a user wrote a post X. “$ JPMD It is a teker. “
Another x user write“The largest bank in the world is your sign to strangle the stablecoin embracing the ultra.”
Social media posts did not offer any additional evidence about the bank’s plans and JPMorgancchace did not respond immediately to comment Fortune.
Because President Donald Trump industries include assumptions among interest-interested interests in Stablecoins. A number of companies are often investigating the ways to address border transactions and apply stablecoins to protect fiators from inflation.
Loyalty of Active Manager in March declared This was “actively tested by a Stablecoin, but at this time there were no plans to start the product.
Last month Wall Street Journal Reported participating in conversations with jpmorganchase Bank of America, Citigroup, Wells Fargo And other commercial banks, in potential, stablecoin, referring to people who are familiar with the issue.
External companies outside the financial world are also considering Stablecoins. In May, Fortune declare This is Mark Zuckerberg Meta Perablecoines of Crypto firms were in negotiations to integrate to manage payments. Before this month, Fortune declare In addition to meta, AppleX, airbnb and Google They were all exploring the use of stablecoins.
Whether “JPMD” is a stablecoin or other kind of cryptist, this is not the first foray in the bank’s digital assets. JPMorgan was put into operation JPM coinIn 2019, the bank’s wholesale payments are a cryptovurn used for work. declared In 2023, the JPM coin said he worked on a $ 1 billion operation daily.
Jpmorganchase CEO Jamie Dimon to recently Staunch critic Crypto-class. In 2021, Dimon called the most popular cryptocurrency, “worthless” bitcoin. In 2023, Congress told Congress that the only real use of use for cryptists “criminals, drug traffickers … money washing, to avoid money”
However, as the regulatory environment in the United States warms the idea of digital assets, Dimon changed his melody. Dimon last month declared This jpmorganchase would allow customers Bittoin But he would not be arrested.
This story was first displayed Fortune.com
