The largest bank in the United States, JP Morgan Chase, submitted a new trademark application, suggesting that a digital or stable currency called “JPMD” would be introduced. According to that document, Chase Morgan provided a wide range of digital asset services, including transaction, transfer and payment functions using virtual currency. These services will cover digital tokens, payment tokens, decentrized application tokens and money based on block chains.
The trademark also includes financial operations such as electronic money transfers, real-time currency transactions, securities brokers and digital hosting services. In short, Chase Morgan appears to be building an integrated platform for secure online digital asset management.
This suggests that Morgan Chase is preparing to issue a stable currency, which is a encrypted currency whose value is less volatile than that of a currency such as a bitcoin. Stabilized currencies, usually secured by real currencies such as the United States dollar, are well suited for day-to-day transactions.
In the expert ' s view, this could be part of the Morgan Chase project aimed at improving its digital services and making financial transactions faster and cheaper. If rolled out, JPMD can help common users and large companies to use block-chain technology to transfer funds more easily.
It's not the first time Morgan Chase has entered the zone chain. The Bank had previously introduced JPM Coin, a digital token for internal transfers between institutional clients. This may put Morgan Chase in direct competition with other players, such as PayPal and Circle USDC, which has introduced its own stabilization currency PYUSD.