World banking large JPMorgan Chase has filed a trademark software for a brand new crypto-focused platform branded as JPMD, signaling that the financial institution is pushing deeper into digital belongings.
In keeping with the software filed on Sunday to the U.S. Trademark and Patent Workplace, JPMD will supply companies reminiscent of “offering buying and selling, trade, switch, and fee companies for digital belongings” and “issuance of digital belongings.”
The financial institution’s strikes come as conventional monetary establishments think about stablecoin issuance and asset managers situation crypto funding merchandise and discover asset tokenization.
JPMorgan CEO Jamie Dimon, who has lengthy criticized cryptocurrencies, mentioned final month the financial institution will allow its purchasers to purchase bitcoin
. The financial institution not too long ago added BTC ETFs for mortgage collateral for patrons, and was additionally talked about among the many U.S. banks that reportedly held discussions about launching a stablecoin.
JPMorgan operates a non-public blockchain funds community Kynexis that processes greater than $2 billion in each day transaction quantity.