The country’s largest bank applied for a digital currency trademark with the US Patent and brands office (USPTO). This step led to a prediction of the “JPMD” application that reflects the bank’s increasing interest in Stablecoins– A type of encrypted currency designed to maintain the value of a longing with the US dollar.
the to request It was presented before Jpmorganchase On June 15, according to USPTO. Liser in the “JPMD” menu as a good service or service that provides “trading, exchange, transfer and payment of digital asset services”, among other categories related to cryptocurrencies and Blockchain technology.
While the bank did not confirm its intention to launch a new encoded currency, some of them x Users believe that “JPMD” is a reference to the upcoming Stablecoin offer. One of the users wrote in a mail On x.$ Jpmd It is complicated. “
Another X user books“The largest bank in the world embraces Stablecoin is a sign of ultra bullish.”
Social media publications did not provide any additional evidence about the bank’s plans, and JPMorganchase did not immediately respond to the request to comment from luck.
This speculation comes amid a renewed interest in Stablecoins, where President Donald Trump embraces this industry. A number of companies explores ways to implement Stablecoins, which are often used to settle cross -border transactions and protect light currencies from inflation, to the payment infrastructure.
In March, Fidelity Director Declare He was a “actual test” Stablecoin but had no plans to launch the product at this time.
Last month, Wall Street Journal I mentioned that Jpmorganchase was involved in conversations with Bank of Americaand Citigroupand Wales Vargo And other commercial banks on the common Stablecoin version, referring to people familiar with this issue.
Companies outside the world of financing are also studying stablecoins. in May, luck I mentioned That Mark Zuckerberg Dead He was in talks with coding companies to integrate Stablecoins to manage payment. Earlier this month, luck I mentioned This is in addition to the definition, appleAnd x and Airbnb and Google They were all exploring the use of Stablecoins.
Whether “JPMD” is a stablecoin or another type of encrypted currency, it is not the first battle of the bank in the area of digital assets. I launched Jpmorgan JPM currencyCracks used in wholesale payments in the bank, in 2019. The company Declare In 2023, JPM was processing $ 1 billion of transactions per day.
Until recently, he was the CEO of Jpmorganchase Jimmy Damon A strong critic From the encryption industry. In 2021, Damon Bitcoin is called the most popular cryptocurrency, “inevitable”. In 2023, Congress told that the only real use of encryption is “criminals, drug dealers … money laundering, and avoiding taxes.”
However, since the organizational environment in the United States is rising to the idea of digital origins, Damon has changed its melody. Last month, Damon Declare Jpmorganchase will allow customers to buy Bitcoin But they will not hug it.
This story was originally shown on Fortune.com
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