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- JPMorgan Chase has filed a brand request for “JPMD”, perhaps indicating new digital asset services.
- The application suggests features such as the issue of digital currencies and the trading of digital tokens in real time.
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JPMorgan Chase makes new movements in the space of digital assets with a newly deposited trade mark for “JPMD”, according to a submission of June 15 at the American Patent and Brands Bureau (USPTO).
The demand, submitted by JPMorgan Chase Bank, NA, covers a wide range of digital assets and blockchain services, including the issue of digital currencies, processing of electronic payments and financial guard services, and it can report the next development of the bank in stablecoin offers.
This is not the first JPMorgan foray into finance based on the blockchain. The bank already operates JPM Coin, a stablecoin supported by a dollar used to facilitate instant payments between institutional customers. The token operates on the Quorum blockchain, a private blockchain network developed by JPMorgan based on Ethereum technology.
This decision comes while JPMorgan Chase and other American banking giants would consider a collaborative stable project through their jointly entities, early alert services and the Clearing House. The initiative aims to compete with the rapid growth of digital asset platforms.
The progress of the project depends on regulatory acceptance and market demand, influenced by current legislative developments such as the Act on Engineering, which is heading for a final vote this week.
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