JPMorgan files for JPMD trademark as GENIUS Act heads to vote — is a stablecoin in the works?

JPMorgan Chase has filed a trademark application for “JPMD,” prompting speculation the bank may be preparing to launch its stablecoin. The application, filed on June 15 with the U.S. Patent and Trademark Office, describes JPMD as a service for “trading, exchange, transfer, and payment services for digital assets,” among other crypto-related functions. The bank has not issued a public statement about the filing, but it arrives when stablecoins are gaining new momentum across both Wall Street and Silicon Valley. In recent months, companies like Meta, Apple, and Google have explored stablecoin integrations, while asset managers such as Fidelity have begun testing their offerings. JPMorgan has also been involved in private discussions with other top U.S. banks, Citigroup, Wells Fargo, and Bank of America, about possibly issuing a joint bank-backed stablecoin, according to reporting from The Wall Street Journal on May 22. You might also like: Trump’s Truth Social joins ETF race with dual Bitcoin and Ethereum product The timing of JPMorgan’s move is also notable given the regulatory backdrop. The U.S. Senate is scheduled to vote today, June 17, on the GENIUS Act, a bill that could shape the future of stablecoin issuance. The legislation requires stablecoins to be fully backed by U.S. dollars or short-term Treasuries, mandates regular reserve audits, and prohibits unlicensed issuers. Additionally, it specifies that stablecoins are not securities and grants users the right to redeem them, giving investors and institutions much-needed clarity. Should the bill pass, it will proceed to the House for reconciliation with the STABLE Act before reaching the president’s desk. JPMorgan already has a history with digital assets. It launched JPM Coin for institutional settlements in 2019, which processed daily transactions totaling more than $1 billion. Customers of the bank can now purchase Bitcoin ( BTC ) exchange-traded funds and use cryptocurrency-related assets as loan collateral. It also previously registered a trademark for “J.P. Morgan Wallet” to support crypto payments and digital currency transfers. While chief executive officer Jamie Dimon has long criticized crypto, calling Bitcoin “worthless” and comparing it to smoking, his tone has shifted amid a friendlier regulatory climate. Though JPMorgan does not directly custody crypto, it is steadily expanding its digital finance footprint. Whether JPMD is a stablecoin or another blockchain product, the filing signifies the entry of traditional institutions into a regulated, tokenized financial future. Read more: With the Genius Act vote nearing final passage — who wins, and who loses?

Source: crypto.news