JPMorgan Eyes Full-Stack Blockchain Services
On June 15, 2025, JPMorgan Chase filed a trademark application for “JPMD” with the U.S. Patent and Trademark Office (USPTO), marking a bold step into digital assets. The filing outlines an expansive range of blockchain-related services—from trading and payments to digital asset issuance—all under the JPMD brand.
What JPMD Could Deliver
Based on the USPTO filing, JPMD aims to offer a comprehensive platform tailored for institutional and enterprise clients. Proposed services include:
- Trading and exchange for multiple digital tokens
- Real-time electronic fund transfers and payment infrastructure
- Custody and clearing services for large-scale transactions
- Issuance of blockchain-based assets, possibly including tokenized securities or currencies
Although the application has been accepted, it remains under USPTO review pending final approval.
Is a New Stablecoin on the Horizon?
While the filing doesn’t explicitly mention “stablecoin,” many in the industry believe the “D” in JPMD could stand for “dollar.” This fuels speculation that JPMorgan may be preparing to launch a new dollar-backed token, potentially to rival existing options like USDC. JPMorgan’s current stablecoin, JPM Coin, already facilitates rapid interbank settlements via its private Quorum blockchain.
This trademark filing aligns with broader industry trends. Major U.S. banks—including Bank of America, Wells Fargo, and Citigroup—are exploring a joint stablecoin effort through Early Warning Services and The Clearing House. Their goal is to develop regulated, bank-issued digital tokens as a direct counter to crypto-native alternatives.
Leveraging Existing Blockchain Infrastructure
JPMorgan’s blockchain ecosystem is already among the most mature in the traditional banking sector. Its Kinexy network, formerly Onyx Digital Payments, processes over $2 billion in transactions daily and has settled more than $1.5 trillion in blockchain payments.
The JPMD initiative could either plug into Kinexy or operate in parallel, expanding access to JPMorgan’s digital financial services and enabling new blockchain-based offerings for its clients.
With this move, JPMorgan isn’t just signaling a deeper crypto play—it’s positioning itself as a one-stop shop for digital assets across trading, custody, payments, and tokenization.
