JPMorgan Chase has filed a new trademark application in the United States to submit it as “JPMD”, which shows a potential expansion of its blockchain and crypto services and expands speculation about Stablecoin products.
JPMorgan Cathedral application Heading to the U.S. Patent and Trademark Office on Sunday, outlining a wide range of crypto-related services, including digital asset trading, exchanges, transfers, clearing and payment processing.
An extensive list of services may indicate that JPMorgan is exploring more financial services on the blockchain rails, including stable products.
Morgan
Although the term “Stablecoin” was not mentioned, the Wall Street Journal’s May 22 report statement JPMorgan Chase and other large banks, including Bank of America and Wells Fargo, are considering Launch United Stability.
Many industry experts are speculating whether the report is related to trademark applications.
The WSJ reported that banks will compete directly with crypto-native Stablecoin issuers and see Stablecoins as a strategic tool to accelerate conventional and cross-border payments.
JPMorgan Chase is already active in the blockchain space
And JPMorgan CEO Jamie Dimon Repeated criticism of Bitcoin ((BTC), he has long believed that blockchain can provide valuable uses for financial institutions.
For example, JPMorgan’s Kinexy platform (formerly Onyx) has deal with Blockchain-based bank payments with JPM Coin exceed $1.5 trillion – Private stable agents fixed USD, GBP or Euro to 1:1 at a price of 1:1.
Key U.S. Stability Act Is Progressing
JPMD application with U.S. Senate Choices to Progress Last week, 68 to 30 votes, guided and established national innovation for the U.S. Stabilization Act or Genius Act.
Most senators, including several Democrats, voted to pass the bill to convene lawsuits, debate and a full vote, and then possibly send it to the House for further consideration.
If two chambers pass, the stability bill will go to President Donald Trump’s desk for formal approval.
Related: Jointly criticize in support of the U.S. Army march
this Stablecoin Market CAP is currently priced at $251.7 billion, led by Tether (USDT) and Circle’s USDC (USDC) was $156.3 billion and $61.3 billion respectively data show.
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