On the 15th, JPMorgan Chase, the largest bank in the United States, filed a trademark application for its new blockchain-based service "JPMD." Some members of the digital asset (cryptocurrency) community speculate that this application may be related to stablecoins.
The application has been accepted by the United States Patent and Trademark Office (USPTO), but no examiner has been assigned yet.
The content describes a wide range of "products/services" related to almost every aspect of the digital asset ecosystem, from payment to data transmission.
For example, there are services that provide transactions, exchanges, transfers, and payment services for digital assets such as "cryptocurrencies, digital currencies, digital tokens, payment tokens, decentralized application tokens, and blockchain-enabled currencies."
In addition, it extensively describes various financial services such as "electronic transfer of digital assets for use by members of online communities via a global computer network" and "financial management of assets through distributed ledger technology."
Although the term "stablecoin" is not used, there are those who speculate that the initial "D" in "JPMD" stands for "dollar," suggesting it may refer to "JPMorgan Dollar."
The names of existing US dollar-backed stablecoins include "USDT", "USDC", and "PYUSD", where "D" is often used as an abbreviation for dollar.
The DeFi (decentralized finance) project "World Liberty Financial (WLFI)" promoted by the Donald Trump family also began issuing the dollar-denominated stablecoin "USD1" in March.
What is a stablecoin?
Refers to cryptocurrencies whose prices are always stable. Stablecoins are a type of digital asset, and unlike volatile assets such as BTC, ETH, and XRP, they are backed by the US dollar and aim to maintain their value. In addition to stablecoins backed by the US dollar (USDT, USDC), there are also stablecoins that use algorithms.
JPMorgan CEO Jamie Dimon is known for his skeptical stance on Bitcoin (BTC), but the company is proactive about blockchain technology.
As of 2020, the private blockchain "Kinexys (formerly known as Onyx)" based on Ethereum (ETH) has been launched.
This platform utilizes the digital currency "Kinexys Digital Payments (formerly known as JPM Coin)" developed by JP Morgan to support the trading of tokenized assets and global payments.
Kinexys Digital Payments functions as a highly customizable stablecoin pegged 1:1 to either the US dollar, British pound, or Euro. It has reportedly processed over $1.5 trillion (approximately ¥217 trillion) in total transactions, including interbank and intrabank remittances, and international transactions.
The final vote on the stablecoin regulation bill "GENIUS" is scheduled to take place in the U.S. Senate on the 16th, U.S. time. If the bill passes the Senate, it will move to the House for consideration.
In response to the progress of the stablecoin regulatory bill, the stock of Circle, the issuer of USDC, reached a new all-time high on the 16th.
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JPMorgan files trademark for "JPMD", is a new stablecoin in development?
On the 15th, JPMorgan Chase, the largest bank in the United States, filed a trademark application for its new blockchain-based service "JPMD." Some members of the digital asset (cryptocurrency) community speculate that this application may be related to stablecoins.
The application has been accepted by the United States Patent and Trademark Office (USPTO), but no examiner has been assigned yet.
The content describes a wide range of "products/services" related to almost every aspect of the digital asset ecosystem, from payment to data transmission.
For example, there are services that provide transactions, exchanges, transfers, and payment services for digital assets such as "cryptocurrencies, digital currencies, digital tokens, payment tokens, decentralized application tokens, and blockchain-enabled currencies."
In addition, it extensively describes various financial services such as "electronic transfer of digital assets for use by members of online communities via a global computer network" and "financial management of assets through distributed ledger technology."
Although the term "stablecoin" is not used, there are those who speculate that the initial "D" in "JPMD" stands for "dollar," suggesting it may refer to "JPMorgan Dollar."
The names of existing US dollar-backed stablecoins include "USDT", "USDC", and "PYUSD", where "D" is often used as an abbreviation for dollar.
The DeFi (decentralized finance) project "World Liberty Financial (WLFI)" promoted by the Donald Trump family also began issuing the dollar-denominated stablecoin "USD1" in March.
What is a stablecoin?
Refers to cryptocurrencies whose prices are always stable. Stablecoins are a type of digital asset, and unlike volatile assets such as BTC, ETH, and XRP, they are backed by the US dollar and aim to maintain their value. In addition to stablecoins backed by the US dollar (USDT, USDC), there are also stablecoins that use algorithms.
JPMorgan CEO Jamie Dimon is known for his skeptical stance on Bitcoin (BTC), but the company is proactive about blockchain technology.
As of 2020, the private blockchain "Kinexys (formerly known as Onyx)" based on Ethereum (ETH) has been launched.
This platform utilizes the digital currency "Kinexys Digital Payments (formerly known as JPM Coin)" developed by JP Morgan to support the trading of tokenized assets and global payments.
Kinexys Digital Payments functions as a highly customizable stablecoin pegged 1:1 to either the US dollar, British pound, or Euro. It has reportedly processed over $1.5 trillion (approximately ¥217 trillion) in total transactions, including interbank and intrabank remittances, and international transactions.
The final vote on the stablecoin regulation bill "GENIUS" is scheduled to take place in the U.S. Senate on the 16th, U.S. time. If the bill passes the Senate, it will move to the House for consideration.
In response to the progress of the stablecoin regulatory bill, the stock of Circle, the issuer of USDC, reached a new all-time high on the 16th.