The “J.P. Morgan Wallet” has been legally registered and patented by JPMorgan with the United States Patent and Trademark Office, according to a formal document released on November 21, 2022. (USPTO).
The heritage bank will start providing cryptocurrency and bitcoin services to its current clientele after this new enrollment.
According to a tweet from USPTO-licensed trademark attorney Mike Kondoudis, JPMorgan will now offer “Virtual currency transfer + exchange, Crypto payment processing, Virtual checking accounts, and Financial services” as a result of the clearance.
According to the document’s specifics, JPMorgan will offer services related to cryptocurrency exchange, cryptocurrency transfers on the blockchain, cryptocurrency payment processing services, including processing cryptocurrency payments through credit and cash cards, processing cross-border payments by handling currency exchange settlements across multiple borders, and services for creating and managing virtual check-ins.
The trademark approval was received on November 15, 2022, but it wasn’t published until today. JPMorgan Chase submitted a trademark application in July 2020 with the serial number 90071872 according to data from Justia, an American website that specializes in legal information retrieval.
Despite CEO Jamie Dimon’s opposition to cryptocurrencies, the bank has been investigating them. JPMorgan has joined Fidelity Bank, New York Bank Mellon, and other established financial institutions in providing services related to cryptocurrencies, such as payments and exchanges. The move is made at a time when the FTX collapse has rocked the cryptocurrency world.
