JPMorgan Chase has filed for a trademark tied to what appears to be a new blockchain-based asset dubbed “JPMD,” raising fresh speculation that the banking giant may be preparing another stablecoin-style product.
The filing, submitted to the U.S. Patent and Trademark Office on Sunday, outlines a wide-ranging digital asset platform that would cover trading, transfers, brokerage, clearing, and electronic payments — all powered by blockchain technology. While the term “stablecoin” doesn’t appear explicitly, the scope of the application strongly hints at it.
The move comes as JPMorgan expands its digital asset infrastructure, particularly through its rebranded Kinexys platform — formerly known as Onyx — which already supports JPM Coin, a blockchain-based system for interbank settlements in U.S. dollars, euros, and pounds. That platform has reportedly handled more than $1.5 trillion in transactions to date and averages $2 billion in daily flows.
JPM Coin functions much like a stablecoin, offering near-instant settlement for institutional clients. The newly trademarked JPMD could point to a broader product, possibly aimed at external partners or even the retail market, though the bank hasn’t confirmed any such plans.
The filing also comes at a time when U.S. regulators appear to be softening their stance on bank-issued stablecoins. Several major banks — including Bank of America, Citi, and Wells Fargo — have reportedly explored joint digital currency projects, and corporations like Walmart and Amazon are also weighing private token launches.
JPMorgan has been one of the most active traditional financial players in blockchain and tokenization. Its Tokenized Collateral Network, launched in 2022, allows instant transfer of ownership for collateral assets like money market funds — part of a broader push to modernize settlement infrastructure using blockchain rails.
The bank’s growing crypto footprint contrasts with CEO Jamie Dimon’s longtime skepticism of Bitcoin and other public cryptocurrencies. Still, even Dimon acknowledged last year that JPMorgan is “probably one of the bigger users of blockchain in the world.”
If JPMD does emerge as a new stablecoin, it would add another heavyweight player to a space currently dominated by private issuers like Tether and Circle — and one that’s increasingly drawing attention from regulators, banks, and Big Tech alike.
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