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A new filing from the US Patent and Trademark Office suggests that JPMorgan may be launching a stablecoin. The trademark filing names this product JPMD but doesn’t provide many details.
Without firm evidence, it’s difficult to make any conclusive claims about this development. Still, stablecoins are a growing market, and the firm has already shown interest in exploring it.
Could JPMorgan Launch a Stablecoin?
JPMorgan, one of the world’s largest investment banks, has been interested in the crypto industry for quite a while. It created its own cryptocurrency six years ago, causing a stir in the stablecoin business.
Today, the suggestion that JPMorgan could launch a stablecoin has left the entire community abuzz with speculation:
This speculation included many optimistic predictions, with some users suggesting that JPMD stands for “JPMorgan Dollar.” If the bank were entering the stablecoin sector, it could have seismic implications for the crypto industry.
Unfortunately, a closer look at the paperwork doesn’t provide a lot of details. JPMorgan’s application does not use the word “stablecoin,” referring only to concepts like “payment tokens” and “blockchain-enabled currency.”
Other relevant terms include “digital asset trading, exchange, transfer and payment services, electronic fund transfers, securities brokerage, real-time token trading, and custody services.”
These terms all certainly seem applicable to a stablecoin, but investors should be careful of wishful thinking.
Luckily, a few pieces of circumstantial evidence might make this theory more plausible. JPMorgan recently considered a stablecoin launch, but specifically in conjunction with Bank of America and other firms.
Since then, Bank of America has moved forward with an independent project, seemingly removing JPMorgan from the picture.
Could JPMD be JPMorgan’s answer to this development? President Trump has big plans for stablecoins, and firms like Amazon and Walmart are planning to launch their own.
Circle’s recent IPO also demonstrated the market’s strong appetite for these products. Maybe JPMorgan is trying to establish a foothold in the stablecoin market on its own.
To be clear, though, all this is based on broader market developments and other circumstantial evidence. JPMorgan hasn’t made any public statements on the topic. The trademark application cost the firm $1,150, hardly signifying a major commitment.
Most notably, the timing of this filing is significant, as the US will likely pass its first stablecoin bill, the GENIUS Act, this week. This would allow institutions like JPMorgan to launch a stablecoin under clear regulatory guidelines.
Still, developments like this have a way of capturing the community’s imagination. If nothing else, it’s undeniable that stablecoins are growing in prominence. As a world-class market mover, JPMorgan is somewhat obligated to at least explore the possibilities of stablecoins.