JPMorgan Files Digital Currency Trademark Amid Stablecoin Speculation

JPMorgan Chase, the largest bank in the country, has filed a trademark application with the United States Patent and Trademark Office (USPTO) for a digital currency-related trademark. This move has sparked speculation that the bank may be planning to launch a stablecoin, a type of cryptocurrency designed to maintain a value equivalent to the U.S. dollar. The application, filed on June 15, lists "JPMD" as a good or service that would provide "trading, exchange, transfer and payment services for digital assets," among other categories related to cryptocurrencies and blockchain technology.

While JPMorgan Chase has not officially confirmed its plans to introduce a new cryptocurrency, some social media users have suggested that "JPMD" could be a reference to an upcoming stablecoin offering. One user on X wrote, "Stablecoin by JPMorgan is incoming. $JPMD is the ticker." Another user commented, "The world’s biggest bank embracing stablecoin is your sign to stay ultra bullish." However, these social media posts did not provide any additional evidence about the bank’s plans, and JPMorgan Chase did not immediately respond to a request for comment.

This speculation comes at a time when there is renewed interest in stablecoins, as President Donald Trump has shown support for the industry. Several companies have been exploring ways to integrate stablecoins into their payment infrastructure, often used to settle cross-border transactions and to protect fiat currencies from inflation. In March, an asset manager announced that it was "actively testing" a stablecoin but had no plans to launch the product at this time.

Last month, it was reported that JPMorgan Chase was involved in conversations with other commercial banks about potentially issuing a joint stablecoin. Companies outside the financial sector are also considering stablecoins. In May, it was reported that a major technology company was in talks with crypto firms to integrate stablecoins to manage payouts. Earlier this month, it was reported that several other major technology companies were exploring the use of stablecoins.

Regardless of whether "JPMD" is a stablecoin or some other type of cryptocurrency, it is not JPMorgan Chase's first venture into the digital assets space. The bank launched JPM Coin, a cryptocurrency used for its wholesale payments business, in 2019. The company announced in 2023 that JPM Coin was handling $1 billion of transactions daily.

Until recently, JPMorgan Chase CEO Jamie Dimon has been a vocal critic of the crypto industry. In 2021, Dimon called Bitcoin, the most popular cryptocurrency, "worthless." In 2023, he told Congress that the only true use case for crypto is for "criminals, drug traffickers…money laundering, tax avoidance." However, as the regulatory environment in the U.S. has become more favorable towards digital assets, Dimon has shifted his stance. Last month, Dimon announced that JPMorgan Chase would allow clients to buy Bitcoin but would not custody it.