Nazia Saeed
JPMorgan Chase has filed a new trademark application for “JPMD,” a digital asset service which has ignited speculations that the U.S. banking giant could be preparing to launch its own stablecoin.
The filing, submitted on June 15 to the U.S. Patent and Trademark Office, outlines a Web3-focused project offering digital asset trading, transfer, payment, and exchange services. While the term “stablecoin” is absent, the description has crypto observers drawing clear parallels.
Notably, the “D” in JPMD is believed to stand for “Dollar,” suggesting the potential branding of a J.P. Morgan Dollar—a move that would align with naming conventions seen in tokens like Circle’s USDC. Though the trademark hasn’t yet been approved, the speculation aligns with mounting signs that Wall Street firms are deepening their engagement with blockchain infrastructure.
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Timing aligns with U.S. stablecoin legislation
The filing comes as momentum builds around the Genius Act, a long-awaited bill expected to pass this summer that would provide regulatory guardrails for stablecoins. Its passage could open the door for banks and financial institutions to formally enter the space.
Several companies have already made moves in anticipation. BitGo launched its USDS stablecoin last fall, and the Trump-linked World Liberty Project announced plans earlier this year for USD1, a token backed by U.S. Treasuries and cash equivalents.
JPMorgan’s ongoing blockchain push
JPMorgan’s interest in digital assets is not new. Its blockchain division, Onyx renamed Kinexys in 2023 has processed over $2 billion in daily transactions, according to the company. The firm also operates JPM Coin, used for settling institutional payments.
If JPMD is indeed a stablecoin, it would mark a significant expansion of JPMorgan’s footprint in blockchain finance and a clear signal that stablecoins are moving from the crypto fringes to the financial mainstream.
