JPMorgan filed a trademark application for the mark “JPMD,” covering trading, exchange, transfer, and payment services tied to virtual currency, digital tokens, and blockchain-enabled money. 

According to reports from June 16, the filing lists electronic fund transfers, real-time token trading, custody services, and secure online financial transactions. The document identifies JPMorgan Chase Bank, N.A., as the owner and cites the bank’s Columbus, Ohio, address.

The move comes after reports on May 23 that JPMorgan, Bank of America, Citigroup, and Wells Fargo are discussing a joint stablecoin initiative. 

Frax Finance founder Sam Kazemian confirmed the talks, indicating that discussions have advanced beyond early speculation. 

The reports noted that the banks want to compete directly with crypto-native issuers and view dollar-backed tokens as a strategic tool for providing instant liquidity and hedging market volatility.

The largest US banks would control issuance and settlement by working together while applying the compliance standards they already follow in traditional finance.

Digital asset pivot

Furthermore, the trademark application also follows JPMorgan’s decision to accept spot Bitcoin exchange-traded funds as collateral for loans. 

Reports from June 4 indicated that the program will begin with BlackRock’s iShares Bitcoin Trust (IBIT) and expand to include trading and wealth-management clients. 

The bank will also include digital asset holdings when calculating a client’s net worth, treating them alongside equities, vehicles, and fine art during credit reviews.

Taken together, the Bitcoin collateral program and the “JPMD” filing signal a wider opening toward crypto at the nation’s largest bank. 

While the bank has not announced a consumer-facing token, the trademark language mirrors the functions of a dollar-backed stablecoin.

Rising interest in stablecoins

The move comes amid heightened interest in stablecoins from legacy financial entities.

According to DefiLlama data, this crypto sector is at nearly $252 billion in size. In May alone, the largest eight stablecoins registered $4 trillion in transaction volume.

Last week, reports surfaced that the Bank of America and the world’s largest financial clearinghouse, the Depository Trust & Clearing Corporation (DTCC), are pursuing stablecoin initiatives, adding to the importance of these assets.

The JPMorgan filing, the multibank talks, and the new collateral program demonstrate that large financial institutions are continuing to integrate digital assets into their core lending and payment operations.

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Ripple is advancing its position in digital asset custody with a trademark filing for “Ripple Custody” at the United States Patent and Trademark Office (USPTO).

The application was submitted on Feb. 25 but has yet to be assigned to an examiner.

The filing aligns with Ripple’s broader strategy to expand into the rapidly growing custody sector, which is projected to exceed $20 trillion as institutional adoption accelerates.

Ripple has already made significant investments to bolster its custody offerings. The firm acquired Metaco and Standard Trust, two key players in the industry, to enhance its ability to provide secure and scalable asset storage solutions.

Ripple Custody

According to the trademark filing, Ripple Custody will feature downloadable and cloud-based software to safeguard cryptocurrencies and fiat currencies.

This initiative aims to deliver secure storage, transmission, and management of digital and traditional assets.

Beyond software, Ripple is positioning itself as a comprehensive custodial service provider tailored for institutional clients.

The filing outlines a peer-to-peer network for electronic data transmission and a Software-as-a-Service (SaaS) model that enables financial institutions to store, manage, and transfer fiat, virtual, and digital assets through online platforms.

These tools would greatly improve Ripple Custody’s current infrastructure, which already incorporates high-security measures, including Multi-Party Computation (MPC) and Hardware Security Modules (HSM).

The current service also offers 24/7 secure settlement, real-world asset (RWA) tokenization, and seamless asset transfers.

Additionally, it integrates with DeFi and Web3 applications, expanding its appeal to institutional investors seeking greater exposure to digital finance.

Ecosystem growth

This custodial push coincides with other strategic advancements for Ripple.

The company recently secured regulatory approval from the Dubai Financial Services Authority (DFSA), making it the first blockchain-based payment provider to receive such recognition.

Meanwhile, Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC) could soon be resolved.

Reports indicate that the SEC is considering whether to classify XRP as a commodity, a decision that could significantly impact the token’s regulatory outlook.

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