CoinVoice has learned that, according to Cointelegraph, JPMorgan Chase has submitted a trademark application for "JPMD" to the U.S. Patent and Trademark Office, covering blockchain financial services such as digital asset trading and payment processing. The application does not specifically mention stablecoins, but a Wall Street Journal report on May 22 indicated that the bank is discussing a joint stablecoin issuance plan with several large banks.

Currently, JPMorgan Chase's Kinexy platform has processed over $1.5 trillion in blockchain payments through JPM Coin. This application coincides with the U.S. Senate advancing the "GENIUS Stablecoin Act" with a vote of 68 to 30; if approved by both houses, it will be submitted for presidential signing to take effect. [Original link]