JPMorgan applies for the "JPMD" cryptocurrency service trademark, possibly entering the stablecoin business

According to ChainCatcher news, as reported by Cointelegraph, JPMorgan Chase has submitted a trademark application for "JPMD" to the U.S. Patent and Trademark Office, covering blockchain financial services such as digital asset trading and payment processing. The application does not explicitly mention stablecoins, but a report by The Wall Street Journal on May 22 indicates that the bank is discussing a joint stablecoin issuance plan with several large banks.

Currently, JPMorgan Chase's Kinexy platform has processed over $1.5 trillion in blockchain payments through JPM Coin. This application comes as the U.S. Senate advances the "GENIUS Stablecoin Act" with a vote of 68 to 30; if passed by both chambers, the bill will be submitted for presidential signature to take effect.