JPMorgan Chase’s recent trademark filing for “JPMD” on June 15, 2025, is suggesting a potential stablecoin, building on their existing JPM Coin launched in 2019, which processes over $1.5 trillion in notional value on a private blockchain, per company reports.
This move aligns with a broader trend where major banks are exploring tokenized assets, as evidenced by a 2023 BIS study showing 90% of central banks are researching digital currencies, potentially challenging crypto-native stablecoins like USDT.
The filing’s broad scope—covering digital currency issuance and blockchain services—indicates a strategic pivot, especially surprising given CEO Jamie Dimon’s past criticism of crypto, calling it “a fraud” in 2017, yet now embracing it for institutional use.
