JPMorgan Files Trademark for ‘JPMD’: A Stablecoin in the Making?

JPMorgan, the largest bank in the U.S., filed a trademark application for the name ‘JPMD’ last Wednesday (11th). While the text is somewhat generic, it is believed to be related to a stablecoin.

If this is the case, the acronym JPMD could stand for ‘JPMorgan Dollar.’

In May, The Wall Street Journal reported that major banks, including Bank of America, Citigroup, Wells Fargo, and JPMorgan itself, were in discussions to create a consortium and launch a cryptocurrency pegged to the U.S. dollar.

What Does the ‘JPMD’ Trademark Registration Say?

Like any other trademark registration, the text found on the United States Patent and Trademark Office website regarding JPMD is completely generic and broad. It includes, for example:

• Provision of trading, exchange, transfer, and payment services for digital assets;
• Issuance of digital assets;
• Payment processing services in the field of digital assets;
• Electronic funds transfer services;
• Issuance and redemption of digital currency for fiat currency;
• Electronic financial trading services;
• Digital asset trading services;
• Financial stock exchange services;
• Online real-time digital token trading;
• Electronic payment processing services via distributed ledger technology;

Some points suggest that JPMD could even be a cryptocurrency exchange, operating more broadly in the market.

However, the second highlight (issuance of digital assets) suggests that it is indeed the creation of a stablecoin.

Earlier this month, Jamie Dimon, CEO of JPMorgan, mentioned the JPMorgan Coin when questioned about the regulation of stablecoins. This coin was created back in 2019, but its use is only internal.

“At some point, we will externalize it,” Dimon said at the time.

Therefore, it is also possible that JPMD is a rebranding of JPMC for a public launch.

Much earlier, in 2020, the bank also registered the JP Morgan Wallet trademark, again citing terms such as transfer and trading of virtual currencies, cryptocurrency payments, and other terms linked to the crypto sector.

Despite the size of JPMorgan, now the largest bank in the U.S. in terms of total assets, its CEO Jamie Dimon has always been a critic of cryptocurrencies, especially Bitcoin.

In 2022, for example, the executive said that cryptocurrencies were “pet rocks.” In 2024, Dimon stated that Bitcoin is a scam.

Despite his comments, sources indicate that JPMorgan will begin offering loans secured by Bitcoin.

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