JPM Trademarks Wallet Brand
JP Morgan has successfully registered a brand for a digital wallet.

The bank reportedly submitted an application for a trademark titled "JP Morgan Wallet" in July 2020, and the application was finally approved on November 15, according to a filing with the United States Patent and Trademark Office (USPTO).

The text of the trademark indicates that it can be applied to services that are provided via the internet. These services include the processing of payments made using cryptocurrencies, the electronic transfer of virtual currencies by an online community, and the trading of virtual currencies.

The trademark is not limited to the provision of cryptographic services only. It is also possible to apply it to other types of financial services, such as electronic check processing, automated payments through the Automated Clearing House (ACH), virtual checking accounts, and bill payments.

At the moment, it would appear that JP Morgan is making use of the brand for a service that offers business subledgers.

In spite of the fact that JP Morgan has not yet put its trademark on a full-fledged cryptocurrency wallet, the company has made significant headway into the blockchain industry over the course of the past few months.

On November 2nd, the company utilized the Polygon blockchain in order to carry out an international currency exchange. This transaction was carried out with the assistance of DBS Bank and SBI Digital Asset Holdings, both of which are based in Singapore.

Additionally, on October 11, JP Morgan entered into a partnership with Visa. Through this partnership, J.P. Morgan's blockchain product, Liink, was supposed to be integrated with Visa's B2B Connect network.

J.P. Morgan also participated in the settlement of BlackRock assets via an on-chain transaction this year, opened a space in the blockchain-based virtual world Decentraland, and commented on Ethereum's recent merge. All of these activities took place in 2018.

The world's largest bank continues to run a variety of product lines related to cryptocurrencies, such as its blockchain network Onyx and its private stablecoin, JPM Coin.

The bank will be in a strong position to expand its crypto services under its new wallet brand as a result of these developments, even though they are not directly related to the news that was reported today.