JPMorgan, JPM, has reportedly trademarked a stablecoin called ‘JPMD’

JPMorgan Chase, one of the world’s largest banking institutions, has submitted a trademark application for a new cryptocurrency-focused platform named JPMD—an indication that the firm is further expanding into the digital asset space.

The application, filed Sunday with the U.S. Patent and Trademark Office, outlines that JPMD will provide a range of services, including "trading, exchanging, transferring, and payment processing for digital assets," as well as the "issuance of digital assets."

This development comes as more traditional financial players explore the digital asset ecosystem—ranging from stablecoin initiatives to launching tokenized investment products.

Despite long-standing skepticism toward crypto, JPMorgan CEO Jamie Dimon stated last month that the bank will allow clients to purchase bitcoin. JPMorgan has also begun accepting BTC exchange-traded funds as collateral for loans and was reportedly among the U.S. banks exploring the creation of a stablecoin.

Additionally, the bank operates Kynexis, a proprietary blockchain payments network that handles over $2 billion in transactions daily.