JPMD

JPMorgan Chase, the largest bank in the U.S., has filed a new trademark application that hints at launching a digital currency or stablecoin named “JPMD.” According to the filing, JPMorgan plans to offer a wide range of digital asset services, including trading, transferring, and payment functions using virtual currencies. The services will cover digital tokens, payment tokens, decentralized app tokens, and blockchain-based currencies.

The trademark also includes financial operations like electronic fund transfers, real-time token trading, securities brokerage, and digital custody services. In short, JPMorgan appears to be building a comprehensive platform for secure online digital asset management.

This move suggests that JPMorgan is getting ready to issue a stablecoin, a kind of cryptocurrency that doesn’t fluctuate as much in value as coins such as Bitcoin. Stablecoins are typically collateralized by real money such as the US dollar, and they are good for running daily transactions.

Experts believe this could be part of JPMorgan’s plan to improve its digital services and make financial transactions faster and cheaper. If launched, JPMD could help both regular users and big companies move money more easily using blockchain technology.

This isn’t JPMorgan’s first move into blockchain. The bank previously launched JPM Coin, a digital token used internally for moving funds between institutional clients. This move could put JPMorgan in direct competition with other players like PayPal, which launched its own stablecoin PYUSD, and Circle’s USDC.

Also Read: BREAKING: JPMorgan to Offer Loans Tied to BlackRock Bitcoin ETF

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In brief

U.S. investment bank JP Morgan Chase has filed a trademark application for a blockchain-based offering called JPMD.
The application does not use the word “stablecoin.”

JPMorgan Chase has filed for a Web3 offering called JPMD with the U.S. Patent and Trademark Office, stoking speculation the U.S. investment bank is planning to launch a stablecoin.

The trademark application, filed on June 15, describes a project that entails “trading, exchange, transfer and payment services for digital assets” issued on blockchains. The U.S. PTO has accepted—but not yet approved—the proposal.

The filing neither uses the word stablecoin, nor describes plans to issue a digital asset pegged one-to-one to the U.S. dollar or another fiat currency—a key characteristic of stablecoins.

However, some crypto industry experts have noted the proposal’s focus on cryptocurrency-related services, from reconciling and clearing financial transactions to digital currency transmission, as indicators that JPMD could be a stablecoin.

“It[‘]s not like wall street is buying all the coins but they’re definitely wanting to adopt the tech (occasionally through gritted teeth),” a self-identified Aptos Labs employee by the username zacharyr0th said Monday in an X post.

i was confused like don’t they already have a blockchain and stablecoin (creatively named JPM Coin)? where will JPMD be deployed to?

its not like wall street is buying all the coins but they’re definitely wanting to adopt the tech (occasionally through gritted teeth) pic.twitter.com/gWvfBcwJHZ

— zacharyr0th (@zacharyr0th) June 16, 2025

The letter “D” in the initialism JPMD seems to stand for “dollar,” as in J.P. Morgan Dollar. That would align the name of J.P. Morgan’s potential stablecoin with those of more popular tokens such as Circle’s U.S. Dollar Coin.

JP Morgan did not immediately respond to Decrypt’s request for comment.

The filing comes as U.S. lawmakers make headway on enshrining regulatory guardrails for stablecoins into law through the Genius Act. The bill, which is expected to pass this summer, would likely increase banks and other financial institutions’ usage of stablecoins in the U.S., leading to a stablecoin market boom.

Ahead of the Genius Act’s passing, several crypto and non-crypto companies are making forays into stablecoins in a bid to capitalize on the looser restrictions for digital assets.

Crypto custody firm BitGo announced last fall the debut of its stablecoin USDS, while the Trump family-backed World Liberty project said in March it would debut USD1, a dollar-pegged token backed by U.S. Treasuries, dollars, and cash equivalents.

JP Morgan’s potential stablecoin plans also come as the financial institution continues experimenting with digital assets and the blockchain technology that undergird them.

The bank introduced its blockchain unit, Onyx, in 2020, making it one of the earliest experimenters with distributed-ledger technology among large financial institutions in the U.S. Renamed Kinexys last year, the blockchain system has reportedly processed more than $2 billion in daily transaction volumes since its inception, according to the project’s website.

Edited by James Rubin

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JPMorgan Files a ‘JPMD’ Trademark, Stablecoin Offering Soon?

JP Morgan Files Trademark for JPMD: Is It a Stablecoin?

In brief

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