Banking giant JPMorgan has gradually thawed out when it comes to cryptocurrencies. Proof of this is once again made with the filing of a trademark indicating that a cryptocurrency wallet could see the light of day.
Would JPMorgan build a cryptocurrency wallet?
Trademark specialist Mike Kondoudis reported the news on Twitter. JPMorgan has registered a trademark for the “JP Morgan Wallet”which would be a digital wallet:
JP MORGAN WALLET is now a registered trademark for:
▶️ Virtual currency transfer + exchange
▶️ Crypto payment processing
▶️ Virtual checking accounts
▶️ Financial servicesThe USPTO granted the #JPMORGAN applied on Nov 15#NFTs #Metaverse #Crypto #Web3 #NFT #Finance pic.twitter.com/Qg2wSeqtFf
—Mike Kondoudis (@KondoudisLaw) November 21, 2022
The filing explicitly states that JPMorgan’s wallet will allow the exchange of digital assets, as well as cryptocurrency payments. It will also offer more “traditional” financial services, such as a current account or the use of payment cards.
It would appear that JPMorgan made this trademark application in July 2020, according to the document. Contrary to what some publications announce, this is therefore not a recent initiative by the banking giant.
Especially since the market is currently experiencing turbulence perhaps unprecedented in its magnitude, with a large deficit of confidence in cryptocurrency services. We can therefore estimate without too much error that JPMorgan wouldn’t necessarily have chosen this moment to make such an announcement.
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JPMorgan confident in the future of cryptocurrencies?
JPMorgan is sometimes bullish, sometimes bearish when it comes to the future of cryptocurrencies – or at least the future of their prices. A year ago, analysts at the banking giant were considering a Bitcoin (BTC) at $146,000 in the long term. But in recent weeks, when a wind of panic has blown on the markets, it is rather the threshold of 13,000 dollars which is envisaged in the short term…
We cannot therefore take this trademark registration as concrete proof that JPMorgan will offer a portfolio of cryptocurrencies. It is likely that the banking giant wished to cover future needs at the time. We will therefore wait to see if this will lead to a real initiative.
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Source: United States Patent and Trademark Office
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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