JPMorgan Chase Bank has filed an application with the USPTO for the registration of the new trademark “JPMD” covering various crypto services. Among the various activities, in fact, there would be trading, transfer, and payment services for digital assets.
JPMorgan and the new trademark JPMD to cover different services in crypto
JPMorgan Chase Bank has filed with the USPTO in the USA an application for registration of the new trademark “JPMD”, to cover a multitude of services in crypto.
In fact, it seems that among the various services listed for JPMD there is trading, exchange, transfer, and payment of digital assets.
Not only that, JPMD of the global banking giant would also cover electronic funds transfers, securities brokerage, real-time token trading (RWA), custody services, and secure online financial transactions.
The extensive list of services might suggest that JPMorgan is exploring the possibility of conducting a greater number of financial services on blockchain rails.
JPMorgan and the new trademark JPMD dedicated to crypto services after Kinexys
This new trademark JPMD by JPMrogan, arrives after several years in which the largest bank in the USA tests and uses blockchains.
Last month, in fact, there was talk of its blockchain unit Kinexys, which had successfully completed a test transaction involving the public blockchains of Ondo Finance and Chainlink.
In practice, here, the JPMorgan test transaction would have involved the exchange of OUSG as the asset leg and Kinexys Digital Payments as the payment leg. To orchestrate the movement of the assets, however, Chainlink Runtime Environment (CRE) took care of it.
This transaction was the first of its kind, meaning where JPMorgan crossed that boundary under its “control.”
Kinexys was originally launched as Onyx and was rebranded in November 2024, with the idea of making changes to the division.
In reality, this division represents one of the first experiments by a major bank in the use of decentralized technologies like blockchain, to support advanced financial services.
Jamie Dimon’s Skepticism on Bitcoin (BTC)
The new application for a new trademark dedicated to JPMorgan’s crypto services arrives despite the well-known skepticism of the bank’s CEO, Jamie Dimon, on Bitcoin (BTC).
In practice, Dimon has always highlighted his lack of enthusiasm in having to involve BTC and crypto in JPMorgan’s activities, yet such an opening seems to be necessary.
Recently, Dimon stated that he would allow his clients to purchase BTC, even though the bank would not offer custody services for the digital asset.
In the meantime, the price of BTC is $107,166. This is an average price for the last month, where BTC has fluctuated between $100,000 and $111,000.