JPmorgan Chase has submitted a brand new brand registration for “JPMD” within the USA, which signals to a possible expansion of its blockchain and crypto services and reinforces the speculation of a StableCoin offer.
The application from JPMorgan to the US patent and brand office on Sunday describes a wide selection of crypto-related services, including trade in digital assets, exchange, transfer, clearing and payment processing.
The broad list of services could indicate that JPMorgan carries out more of his financial services on blockchain rails, including a stable coin offer.
JPmorgan could have a stablecoin within the pipeline
While the term “StableCoin” was not mentioned, a report from May 22 from Wall Street Journal said that JPMorgan and other large banks, including the Bank of America and Wells Fargo, are considering a joint stablecoin.
Many industry experts speculate whether the report and the brand registration are linked.
Source: Martyparty
The WSJ report said that the banks would compete directly with crypto-native StableCoin emitters and consider stable coins as a strategic instrument to speed up routine and cross-border payments.
JPMorgan is already lively within the blockchain room
While Jamie Dimon, CEO of JPMorgan, Bitcoin (BTC) repeatedly criticized, he has long since found that blockchain can offer worthwhile uses for financial institutions.
For example, the Kinexy platform from JPMorgan (formerly Onyx) has already had greater than $ 1.5 trillion in blockchain-based interbank payments with JPM coin-a private stable coin status of 1: 1 either within the US dollar, the British pound or the euro.
The most significant stable coin calculation within the United States is leading
The JPMD application is carried out when the US Senate has advanced the national innovation for US StableCoins or Genius Act in a 68-30 voice last week.
A majority of the senators, including several Democrats, voted to appoint Cloture for the laws, and presented them for debate and a whole coordination before he possibly sent them to the House of Representatives.
If the draft law in StableCoin is adopted by each chambers, he would go to the official approval of President Donald Trump for official approval.
Stablecoin market capitalization is currently 251.7 billion US dollars, led by Tether (USDT) and Circle's USDC (USDC) at $ 156.3 billion or $ 61.3 billion, as Defillama data show.
