JPMorgan Files Trademark for "JPMD", Allegedly Preparing New Stablecoin

JPMorgan Chase, the largest bank in the US by assets and market capitalization, has filed a trademark application for a new product named JPMD, which is suspected to be a blockchain-based asset. Although the term "stablecoin" is not explicitly mentioned in the documents, the application includes a wide range of services ranging from digital asset trading, electronic fund transfers, to debt settlement using distributed ledger technology (DLT). This has sparked speculation that JPMD could be the precursor to a new stablecoin from JPMorgan, continuing their expansion in the digital asset and tokenization sector.

This move adds to JPMorgan's track record of being involved in blockchain development for a long time, particularly through Kinexys (formerly Onyx) and JPM Coin, an internal stablecoin that has processed over $1.5 trillion. Additionally, their Tokenized Collateral network launched in 2022 allows for the tokenization of assets such as money market fund shares as collateral. While CEO Jamie Dimon is known as a critic of Bitcoin, JPMorgan has actually been a pioneer in adopting blockchain technology in the banking sector. With stablecoin regulations in the US beginning to open up, large banks like JPMorgan, Citigroup, and even companies like Walmart are starting to explore the potential of their own stablecoins.#JPMorgan