Global banking giant JPMorgan Chase has filed a trademark application for a new crypto-focused platform branded as JPMD, signaling that the bank is pushing deeper into digital assets.
According to the application filed on Sunday to the U.S. Trademark and Patent Office, JPMD will offer services such as “providing trading, exchange, transfer, and payment services for digital assets” and “issuance of digital assets.”
The bank’s moves come as traditional financial institutions consider stablecoin issuance and asset managers issue crypto investment products and explore asset tokenization.
JPMorgan CEO Jamie Dimon, who has long criticized cryptocurrencies, said last month the bank will allow its clients to buy bitcoin BTC. The bank recently added BTC ETFs for loan collateral for customers, and was also mentioned among the U.S. banks that reportedly held discussions about launching a stablecoin.
JPMorgan operates a private blockchain payments network Kynexis that processes more than $2 billion in daily transaction volume.