17.06.2025 01:47

JPMorgan Chase, the leading US banking institution by assets under management, has recently submitted a trademark application for a cryptocurrency tentatively named "JPMD." This move strongly suggests the financial giant is preparing to introduce its own dollar-backed stablecoin to the market.

Further fueling speculation, a recent Wall Street Journal article revealed collaborative efforts among JPMorgan and other prominent banks to develop a jointly issued stablecoin. This initiative follows JPMorgan's previous ventures into blockchain technology, including the 2019 launch of "JPM Coin," a value token operating on their proprietary Quorum blockchain. This internal token has reportedly facilitated over a billion dollars in daily transactions by the end of 2023, showcasing considerable success.

Building on this foundation, JPMorgan established its independent Onyx blockchain platform in 2020. The anticipated passage of the GENIUS Act, offering increased regulatory clarity for stablecoins in the US, has likely emboldened JPMorgan to expand its involvement in this burgeoning sector.

Interestingly, this strategic move contrasts with CEO Jamie Dimon's persistent skepticism regarding Bitcoin. He recently reiterated his disapproval of Bitcoin, specifically criticizing its potential use as a strategic reserve asset. Despite his personal views, JPMorgan's actions demonstrate a clear commitment to exploring the potential of stablecoins within the evolving cryptocurrency landscape. The filing of the JPMD trademark signals a significant step toward this goal, leveraging past experience and anticipating future regulatory developments.