tl;dr
JPMorgan filed a trademark for "JPMD," covering digital asset payment services related to virtual currency and blockchain, suggesting a potential stablecoin. This follows reports of JPMorgan and other major US banks discussing a joint stablecoin initiative to compete with crypto-native issuers and p...
JPMorgan has filed a trademark application for "JPMD," signaling its intention to launch digital asset payment services closely linked to virtual currency and blockchain technology. The trademark covers a range of services including trading, exchange, transfer, and payment functions, which strongly suggest plans for a dollar-backed stablecoin.
This development follows recent reports that JPMorgan, along with major US banks like Bank of America, Citigroup, and Wells Fargo, are in advanced talks to create a joint stablecoin initiative. The goal is to compete with crypto-native issuers while leveraging stablecoins as tools for instant liquidity and hedging against market volatility. The banks aim to control issuance and settlement collaboratively while adhering to existing regulatory frameworks.
In addition to the trademark filing, JPMorgan has started accepting Bitcoin exchange-traded funds (ETFs) as loan collateral, beginning with BlackRock’s iShares Bitcoin Trust. The bank will also count digital assets in clients’ net worth calculations, equating them with traditional assets like equities and fine art during credit reviews. These actions mark a significant shift, illustrating JPMorgan’s broader embrace of crypto assets within its core financial operations.
The timing of these moves aligns with a surge in stablecoin activity among legacy financial institutions. The stablecoin market, currently valued near $252 billion, saw transaction volumes reach $4 trillion in May alone. Additional initiatives by other major players, including the Depository Trust & Clearing Corporation and Bank of America, underscore stablecoins’ growing strategic importance in global finance.
Collectively, JPMorgan’s “JPMD” filing, multibank collaboration, and adoption of crypto collateral suggest a robust pivot by traditional banks toward integrating digital assets and stablecoin technologies into mainstream financial ecosystems.