JPMorgan Registers Trademark for New Crypto Wallet
America’s largest bank, JPMorgan Chase & Co has revealed itself to be fully diving into the Web3 & crypto industry as they begin the process of creating their own cryptocurrency wallet.
Trademarking The Wallet
On November 21, it was revealed by U.S. Patent and Trademark Attorney Michael Kondoudis that the banking giant JPMorgan has officially registered a trademark for a digital wallet and cryptocurrency-related processing services.
The new wallet will reportedly offer services like crypto transfers and exchange, crypto payment processing, virtual checking accounts, and other financial services.
J.P. MORGAN WALLET is now a registered trademark for:
▶️ Virtual currency transfer + exchange
▶️ Crypto payment processing
▶️ Virtual checking accounts
▶️ Financial services
— Mike Kondoudis (@KondoudisLaw) November 21, 2022
JPMorgan VS Crypto
This news came as a surprise to many in the crypto community, especially since the JPMorgan CEO himself Jamie Dimon has often openly expressed his pessimism and radical stance against cryptocurrencies like Bitcoin.
In the past, Jamie Dimon had called Bitcoin and other cryptocurrencies to be ‘frauds’ and investments that were “worse than tulip bulbs.” The CEO had even gone on to threaten to fire any JPMorgan employees dealing with cryptocurrencies.
Despite all of this, in 2021 JPMorgan co-president Daniel Pinto has made it clear that the major bank had plans to expand into the crypto space if it were to continue to grow.