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 services
—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.
👉 To go further – How to secure and store your cryptocurrencies?
The best way to secure your cryptocurrencies 🔒
🔥 Up to $30 in Bitcoin offered by buying a Ledger
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.
👉 Follow all cryptocurrency courses
Join Experts and a Premium Community
Invest in your crypto knowledge for the next bullrun
Source: United States Patent and Trademark Office
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.