JP Morgan Officially Registers Cryptocurrency Trademark
Banking giant, JPMorgan has officially registered a cryptocurrency wallet trademark.
By Anna B Kiwanuka
US banking giant JP Morgan continues to forge ahead in the cryptocurrency space, with the lender showing through a trademark filing its intention to explore various products.
In a document retrieved from a granted USPTO application, JP Morgan has officially registered a cryptocurrency trademark. Aptly titled, “JP Morgan Wallet”, the brand is set to support virtual currency transfer, exchanges, and cryptocurrency payment processing.
JP Morgan is set to offer its customers Bitcoin exchange services via the newly developed trademark. Furthermore, the filling was granted as of Nov 15.
Mike Koundoudis reported the original document. JP Morgan Wallet had filed for “Virtual Currency Transfer + Exchange, Crypto Payment Processing, Virtual Checking Accounts, and Financial Services,” according to his tweet.
Under the official document, a clearer picture of the official offerings came into view. The registration grants JP Morgan Wallet the ability to provide services regarding cryptocurrency transfers on a blockchain, exchange cryptocurrency, payment processing through credit or cash cards, and the creation and management of checking accounts that operate virtually.
The Crypto Basic reports that JP Morgan registered the trademark in July 2020. Furthermore, it will be intriguing to see how the JP Morgan Wallet evolves under what may be the most unpredictable market in history. As a result, the volatility has increased since FTX, one of the largest exchange platforms for cryptocurrencies, was completely destroyed.
In August of 2021, JP Morgan began allowing its customers to invest in cryptocurrency funds. This was a service that was offered through New York Digital Investment Group, a cryptocurrency investment firm. Subsequently, the move preceded its continued expansion into the virtual currency market.
The JP Morgan Wallet’s launch and ongoing development are, at best, encouraging signs of the market’s continued growth. In the end, one of the American banks with the greatest total assets is now accepting the money.