JPMorgan Registers Trademark For Crypto Wallet (2024)

FAQs

Is JP Morgan's crypto wallet trademark approved? ›

Here, it must be noted that JP Morgan has been awarded the trademark by the US Patent Office after more than two years in application status. In other words, the bank applied for the trademark in July 2022, and the application was finally approved on 15 November.

Bitcoin is a "fraud" and "Ponzi scheme" and cannot serve as a currency, Jamie Dimon said. The JPMorgan CEO said cryptos that enable smart contracts and blockchain apps might have value. Dimon has dismissed bitcoin as a "pet rock" in the past and slammed it for enabling criminals.

The largest bank in the U.S. is making major inroads with its permissioned-blockchain settlement token, JPM Coin.

JPMorgan was named explicitly by BlackRock as one of its authorized participants for the iShares Bitcoin Trust. The BlackRock ETF is leading the pack of new Bitcoin ETFs, reaching $1.8 billion in assets within two weeks of launching the fund.

Key Features of JP Morgan Chase:

Provides crypto-friendly banking services to exchanges and digital asset firms. Expertise in compliance and risk management.

You trademark the name of your NFT or crypto-property by applying to the U.S. Patent and Trademark Office (USPTO) and getting your application approved for registration. Trademarking with the USPTO name is a legal process that usually takes about 12 months.

The bank chief said in 2021 at peak crypto valuations that bitcoin was “worthless,” and he doubled down on that sentiment last year in Davos, Switzerland, when he told CNBC that the digital currency was a “hyped-up fraud.”

JPMorgan CEO Jamie Dimon blasted bitcoin as worthless and said it enables criminal activities. The billionaire banker said a recession is still possible and could happen this year. Household finances, government debt, and foreign conflicts could all weigh on growth, he said.

JPM Coin is intended to serve as a value token on the Quorum consortium blockchain, using software (called "Quorum") also built by JPMorgan Chase, and is used to facilitate interbank payments on the Interbank Information Network (IIN).

Storing your cards in digital wallets lets you make purchases quickly and conveniently online, in stores and in apps using your computer, mobile phone or smartwatch. You can easily add your J.P. Morgan and/or Chase cards to your digital wallet through the J.P. Morgan Mobile® app.

How much is a JPM Coin worth? ›

Today's price of JPM is $0.359791, with a 24-hour trading volume of $--. JPM is undefined% in the last 24 hours, with a circulating supply of -- JPM coins and a maximum supply of -- JPM coins. JPM ranks -- by market cap.

Despite Dimon's blasé reaction, JPMorgan is intimately involved with the new bitcoin fund. JPMorgan is one of two authorized participants for BlackRock's bitcoin ETF, meaning it facilitates capital flows in and out of the fund.

Who can open a Investments by J.P. Morgan account? To open a Investments by J.P. Morgan account, you need to be at least 18 years old and have a valid Social Security number and U.S. home address. We may also ask you for your valid driver's license or state-issued ID.

As stated earlier, the JPM coin can only be used by JPMorgan Chase & Co. customers. This means that you must have an account with the American multinational investment bank to use it.

The bank notes that the bitcoin production cost has historically acted as a lower boundary for BTC prices, and it says this could fall to $42,000 after halving. The central point of the bank's estimated production cost range is currently around $26,500, which would mechanically double to $53,000 post-halving.

A USPTO filing, published Monday, indicates JPMorgan Chase, through its digital wallet brand, can provide electronic transfer of virtual currencies for members of an online community to use, cryptocurrency payment processing, virtual checking accounts and payment settlement between parties, among other features.

Trademarks can be used to protect the names and logos of cryptocurrencies, as well as any other name or logo related to the cryptocurrency. Copyrights can be used to protect any original work related to cryptocurrencies, such as software, whitepapers, or technical articles.

Yes. If you designated a brand to your NFTs, then you have an NFT Trademark which can be registered at the USPTO. A trademark registration gives you a bundle of rights, one of which is the exclusive right the use your brand in connection with goods and/or services identified in the registration.

JPM Coin is intended to serve as a value token on the Quorum consortium blockchain, using software (called "Quorum") also built by JPMorgan Chase, and is used to facilitate interbank payments on the Interbank Information Network (IIN).