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JPMorgan files ‘JPMD’ trademark for digital asset payment services, hinting at potential stablecoin
JPMorgan filed a trademark application for the mark “JPMD,” covering trading, exchange, transfer, and payment services tied to virtual currency, digital tokens, and blockchain-enabled money.
According to reports from June 16, the filing lists electronic fund transfers, real-time token trading, custody services, and secure online financial transactions. The document identifies JPMorgan Chase Bank, N.A., as the owner and cites the bank’s Columbus, Ohio, address.
The move comes after reports on May 23 that JPMorgan, Bank of America, Citigroup, and Wells Fargo are discussing a joint stablecoin initiative.
Frax Finance founder Sam Kazemian confirmed the talks, indicating that discussions have advanced beyond early speculation.
The reports noted that the banks want to compete directly with crypto-native issuers and view dollar-backed tokens as a strategic tool for providing instant liquidity and hedging market volatility.
The largest US banks would control issuance and settlement by working together while applying the compliance standards they already follow in traditional finance.
Digital asset pivot
Furthermore, the trademark application also follows JPMorgan’s decision to accept spot Bitcoin exchange-traded funds as collateral for loans.
Reports from June 4 indicated that the program will begin with BlackRock’s iShares Bitcoin Trust (IBIT) and expand to include trading and wealth-management clients.
