JPMorgan’s crypto wallet trademark is official

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Updated November 22, 2022 | Published November 22, 2022

2 mins read

Not even the crypto winter can stop institutions from looking more seriously at the crypto ecosystem.

JPMorgan has extended its foray into the cryptocurrency space by registering a trademark for crypto wallets.

The trademark can also be used for various financial services, enabling the processing of crypto payments.

JPMorgan Chase & Co is America’s largest bank, and although its own chief executive officer Jamie Dimon is rather pessimistic about the value of investing in the crypto space, the bank’s continued expansion into it tells another story.

Currently, the company is using this trademark with only one specific service – J.P. Morgan Wallet – which provides “real-time virtual sub-ledgers”.

The J.P. Morgan Wallet brand’s patent was filed with the US Patent and Trademark Office on July 24, 2020.

JPMorgan is the latest finance company to enlist in the ranks of crypto-interested institutions.

Visa filed two patents just last month, making its moves into cryptocurrencies and the metaverse official. It’s also behind the blockchain.com Visa card, bringing cryptocurrencies into everyday purchases.

These moves might seem somewhat strange, especially in the face of the crypto winter that many experts are talking about.

It’s not impossible that at least some of these patents were filed with bigger plans in mind but their execution might be somewhat limited in the face of the current climate. It took almost a year and a half for JPMorgan’s trademark to be officially registered.

This is especially true amid the fear, uncertainty and doubt that the FTX collapse brought into the space, making many people extra cautious.

Depending on which side of the fence a person is, it could then be considered a great development that many countries are looking into regulating the space.

This has the potential to help at least a little bit with quenching fears and uncertainty surrounding the everyday use of cryptocurrencies moving forward.

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Written by Kyamil Nasuf

Reporter

Kyamil is a big tech fan, who loves hummus on everything and has enjoyed writing from a young age. He's had experience in writing anything from essays, through personal art, to news pieces and more serious tech analysis. In recent years he’s found fintech and gambling collide with all his interests, so he truly is a great fit to our team.
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