Trademark cryptocurrency.
On November 21, US patent and trademark attorney Michael Kondoudis announced that JP Morgan & Chase Co, the largest bank in the United States – and one of the largest financial firms in the world – had filed a patent for its venture onto the Web3 with a digital crypto. wallet.
According to Kondoudis, the United States Patent and Trademark Office (USPTO) approved JP Morgan & Chase Co.’s application on November 15. The wallet will offer services such as virtual currency transfer and exchange, crypto payment processing, virtual checking accounts, and financial services. .
JP Morgan is going deeper into the cryptocurrency scene.
Despite its CEO’s controversial stance against Bitcoin and cryptocurrencies in general, the bank continues to bet on crypto-related products to streamline its transactions. At the beginning of November, copy trade crypto they took a "big step" by completing their first cross-border transaction using Polygon, a layer 2 scalability solution for the Ethereum network.
At the end of October 2020, the bank announced the launch of its stablecoin JPM Coin, the first US bank-backed cryptocurrency used to send cross-border payments, demonstrating its position in favor of crypto innovation. On the same date, they launched Onyx, copy trading crypto exchange the world’s first bank-led blockchain platform, to develop innovative products, platforms and marketplaces.
Although the trademark registration of the "JP Morgan Wallet" shows that the new digital wallet will be used to process cryptocurrency payments, it does not specify which cryptocurrencies are allowed.
If there is a need, copy trading crypto app there is an opportunity.
Since 2017, the CEO of JP Morgan has maintained a hardline stance against Bitcoin and cryptocurrencies, calling them a "fraud" and "worse than tulip bulb" investments, to the point where he said that it would fire any JP Morgan trader dealing in cryptocurrencies.
However, the bank’s board has other plans for cryptocurrencies; in early 2021, JP Morgan co-chairman Daniel Pinto said that the bank was ready to get involved in bitcoin and cryptocurrencies if demand continues to grow, and they proved it despite the bear market.
Although 2021 was the best year for Bitcoin in terms of price – its $69,000 ATH occurred at the end of the year – the ensuing crash was enough for Dimon to double down on his argument that Bitcoin was fraud".
Despite all the negative news surrounding the ecosystem lately, like the terra collapse and the bankruptcy of several hedge funds and cryptocurrency exchanges like FTXBitcoin has shown that it has a community ready to use its tokens no matter how much FUD they hear.
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