JPMorgan Files ‘JPMD’ Trademark for Crypto Services, Hinting at Potential Stablecoin Venture
In a significant move for the financial industry, JPMorgan Chase has filed a new trademark application for "JPMD" with the United States Patent and Trademark Office. This filing, submitted on June 17, 2025, signals the bank’s potential expansion into the cryptocurrency landscape, particularly in the realm of payment services and digital asset management.
Scope of the Trademark Application
The trademark application outlines a wide array of crypto-related services, including trading, exchange, transfer, clearing, and payment processing of digital assets. This broad scope suggests that JPMorgan is exploring the integration of blockchain technology into its financial services, an endeavor that may include the development and launch of its own stablecoin.
While the term “stablecoin” was notably absent from the trademark documentation, its absence has not diminished speculation among industry experts. A report from The Wall Street Journal, dated May 22, indicated that JPMorgan, along with other major banking institutions such as Bank of America and Wells Fargo, is considering a joint venture to create a stablecoin. These institutions view stablecoins as instrumental in accelerating routine and cross-border payment processes, potentially positioning JPMorgan and its counterparts in direct competition with established crypto-native stablecoin issuers.
Background and Current Holdings
Despite CEO Jamie Dimon’s past criticisms of Bitcoin, he has recognized the potential benefits of blockchain technology for banking. Notably, JPMorgan has already made strides in this area with its Kinexy platform (previously known as Onyx), which has facilitated over $1.5 trillion in blockchain-based interbank payments via JPM Coin. This private stablecoin is pegged 1:1 to major currencies like the US dollar, British pound, and euro, underscoring JPMorgan’s commitment to leveraging blockchain technology for financial transactions.
Legislative Developments in the US
The timing of the JPMD application coincides with recent progress in US legislation concerning stablecoins. The Senate recently voted 68-30 to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. This move sets the stage for further debate and voting in the House of Representatives. Should the bill pass, it would head to the desk of President Donald Trump for final approval.
The wider ecosystem of stablecoins currently holds a market capitalization of approximately $251.7 billion, with Tether (USDT) and Circle’s USDC leading the pack at $156.3 billion and $61.3 billion, respectively, according to data from DefiLlama.
Conclusion
As JPMorgan intensifies its focus on cryptocurrency and explores opportunities within blockchain technology through its latest trademark application, the financial industry’s landscape may soon face a profound transformation. The potential introduction of a stablecoin in collaboration with other major banks could solidify JPMorgan’s position in a rapidly evolving market where traditional finance meets the innovative world of digital currencies. As the situation develops, stakeholders and consumers alike will be keenly observing the outcomes of both JPMorgan’s initiatives and the legislative efforts surrounding stablecoin regulation.