JPMorgan Registers Crypto Trademark Dubbed ‘JP Morgan Wallet’
- As of November 15th, the filling was approved.
- JP Morgan’s Wallet is a promising indicator of the industry’s potential for growth.
Evidence of JP Morgan’s trademark registration for cryptocurrencies was found in a document obtained from a USPTO application. JP Morgan Wallet is the brand’s official name. And it will be used for facilitating the buying and selling of virtual currencies. As well as the processing of payments made in cryptocurrencies.
The most important financial institution in the United States has finally entered the crypto industry. Moreover, the newly created trademark will allow JP Morgan to provide crypto exchange services to its clients. As of November 15th, the filling was approved.
Mike Koundoudis was the first to report on the document. Virtual currency transfer and exchange, crypto payment processing, virtual checking accounts, and financial services were among the things he tweeted that JP Morgan Wallet was registered for.
Promising Indicator For the Sector
Official documentation allowed for a more transparent look at the known benefits. JP Morgan Wallet may now legally facilitate blockchain-based cryptocurrency transfers, cryptocurrency exchanges, card-based payment processing, and virtual checking account opening and administration.
July 2020 saw JP Morgan’s trademark application. It will be fascinating to see how the JP Morgan Wallet evolves during a period of market volatility that may be unprecedented. After the devastating fall of FTX, one of the largest trading platforms in the crypto markets, instability ensued.
Subsequently, the move anticipated its continuing development into the virtual currency sector. JP Morgan’s Wallet, which was just introduced and is still being developed, is a promising indicator of the industry’s potential for growth. One of the biggest banks in the United States in terms of total assets has decided to enter the sector.