Overview

• JPMorgan Chase filed a trademark application on June 15 with the U.S. Patent and Trademark Office for “JPMD,” which is classified to offer trading, exchange, transfer and payment services for digital assets.
• The trademark filing has fueled speculation that JPMD could be tied to a new stablecoin, although JPMorgan has not officially confirmed any such plan.
• According to reports, JPMorgan is in talks with Bank of America, Citigroup, Wells Fargo and other banks about issuing a joint stablecoin.
• This initiative builds on the bank’s existing digital assets operations, including JPM Coin, its 2019 cryptocurrency for wholesale payments that processed over $1 billion in daily transactions as of 2023.
• CEO Jamie Dimon, once a vocal critic of cryptocurrencies, has recently permitted clients to buy Bitcoin and use Bitcoin ETFs as collateral, reflecting the bank’s strategic pivot.