Cryptocurrency wallets have now been officially trademarked by JPMorgan Chase & Co. This registration signifies JPMorgan’s strategic emphasis on launching cryptocurrency payment solutions, encompassing processing of crypto transactions, virtual checking solutions, and additional services. Though Jamie Dimon, their CEO, remains skeptical about cryptos as sound investments, the bank’s exploration into this domain continues unabated.
In a document released on the 21st of November, 2022, JPMorgan secured the official registration and patent for the “J.P. Morgan Wallet” with the United States Patent and Trademark Office (USPTO). This recent advancement will allow the traditional bank to extend its offerings to its existing customer base.
The USPTO licensed trademark attorney, Mike Kondoudis, conveyed through a tweet that this approval enables JPMorgan to offer “Virtual currency transfer, exchange services, Crypto payment processing, Virtual checking accounts, and other related financial services.”
The documentation reveals JPMorgan’s intention to deliver services associated with blockchain cryptocurrency transfers; services for the exchange of cryptocurrencies; processing solutions for crypto payments, which include handling transactions via credit and cash cards; facilitating cross-border payment settlements with foreign exchanges in multiple currencies; and providing services centered on the development and management of virtual checking accounts.
Despite the trademark’s approval being granted on November 15, 2022, the publication of this information occurred today. Per details sourced from Justia, a legal information retrieval platform based in the USA, the trademark application was submitted by JPMorgan Chase back in July 2020, carrying the serial number 90071872.
