TLDR
- JPMorgan filed a trademark for “JPMD” covering digital asset trading, exchange, transfer, clearing and payment processing services
- The filing comes after reports that JPMorgan and other major banks are considering launching a joint stablecoin
- JPMorgan already operates Kynexis blockchain platform processing over $2 billion daily with JPM Coin
- CEO Jamie Dimon recently said the bank will allow clients to buy Bitcoin despite past criticism of crypto
- The move occurs as the US Senate advanced the GENIUS Act stablecoin bill in a 68-30 vote
JPMorgan Chase filed a trademark application for “JPMD” with the US Patent and Trademark Office on Sunday. The filing covers a wide range of cryptocurrency-related services including digital asset trading, exchange, transfer, clearing and payment processing.
The trademark application lists services for “providing trading, exchange, transfer, and payment services for digital assets” and “issuance of digital assets.” This represents a major step forward in JPMorgan’s blockchain and cryptocurrency initiatives.
The timing of the filing has drawn attention from industry observers. A May 22 Wall Street Journal report stated that JPMorgan, Bank of America, and Wells Fargo are considering launching a joint stablecoin venture.
Many analysts are questioning whether the trademark filing and the stablecoin discussions are connected. The banks would reportedly compete directly with existing stablecoin issuers like Tether and Circle.
JP Morgan files for trademark "JPMD" speculated as JPMorganDollar – their intended new StableCoin.#JPMorgan #StableCoin pic.twitter.com/HMYHSYSrm8
— MartyParty (@martypartymusic) June 16, 2025
JPMorgan CEO Jamie Dimon has historically criticized Bitcoin and other cryptocurrencies. However, he has consistently supported blockchain technology for financial institution use cases.
The bank has been active in blockchain payments through its Kynexis platform, formerly called Onyx. Kynexis processes more than $2 billion in daily transaction volume using JPM Coin.
JPM Coin is a private stablecoin pegged 1:1 to the US dollar, British pound, or euro. The platform has processed over $1.5 trillion in blockchain-based interbank payments to date.
Bank’s Crypto Stance Shifts
Dimon recently announced that JPMorgan will allow clients to purchase Bitcoin despite his past criticism. The bank has also added Bitcoin ETFs as acceptable loan collateral for customers.
This represents a shift in the bank’s approach to cryptocurrency services. The JPMD trademark suggests JPMorgan may offer broader crypto services beyond its current blockchain payment systems.
Regulatory Environment Improves
The trademark filing comes as US cryptocurrency regulation advances. The Senate voted 68-30 last week to advance the GENIUS Act stablecoin bill.
The Guiding and Establishing National Innovation for US Stablecoins Act received bipartisan support. Several Democrats joined Republicans in voting to move the bill forward for floor debate.
If passed by both chambers of Congress, the bill would go to President Trump for approval. The legislation would establish federal oversight for stablecoin issuers.
The current stablecoin market capitalization stands at $251.7 billion according to DefiLlama data. Tether leads with $156.3 billion market cap, followed by Circle’s USDC at $61.3 billion.
JPMorgan’s trademark application indicates traditional banks are preparing to compete in the growing stablecoin market.
