JP Morgan is ready to supply Bitcoin change providers by means of its newly-approved trademark, “JP Morgan Pockets.”
America’s largest financial institution by complete property, JPMorgan Chase, is ready to ship bitcoin and cryptocurrency change providers and associated choices to the general public by means of the trademark “JP Morgan Pockets” which was lately registered by the USA Patent and Trademark Workplace (USPTO).
The USPTO authorized the trademark software from JP
Morgan on November 15, as revealed in a doc offered by notable trademark legal professional Mike Kondoudis. Kondoudis disclosed the event on Twitter.
“J.P. MORGAN WALLET is now a registered trademark for:
- Digital foreign money switch + change
- Crypto cost processing
- Digital checking accounts
The USPTO granted the JPMORGAN software on Nov 15,” Kondoudis revealed in a tweet Monday.
J.P. MORGAN WALLET is now a registered trademark for:
▶️ Digital foreign money switch + change
▶️ Crypto cost processing
▶️ Digital checking accounts
▶️ Monetary providersThe USPTO granted the #JPMORGAN software on Nov 15#NFTs #Metaverse #Crypto #Web3 #NFT #Finance pic.twitter.com/Qg2wSeqtFf
— Mike Kondoudis (@KondoudisLaw) November 21, 2022
Data from the doc reveals that, beneath the trademark, JPMorgan will probably be offering crypto-focused providers associated to digital asset change and cost processing. A few of these choices embody:
- Offering providers referring to cryptocurrency transfers on a blockchain.
- Cryptocurrency change providers.
- Cryptocurrency cost processing providers embody processing crypto funds by means of credit score and money playing cards.
- Processing cross-border funds by dealing with overseas change settlements in several currencies throughout a number of borders.
- Companies that contain the creation and administration of digital checking accounts.
Because the web transforms the world into a world village, people throughout a number of international locations have a larger need to make transnational funds. Cryptocurrencies current a seamless and efficient strategy to make these funds. A number of high entities, corresponding to JPMorgan, need to leverage this, evidenced within the introduction of its J.P. Morgan Pockets initiative.
JPMorgan filed the trademark software with the serial quantity 90071872 in July 2020, in accordance with info from the authorized web site Justia.
Regardless of its CEO Jamie Dimon’s detrimental view of bitcoin and the broader cryptocurrency market, JPMorgan has not been as antagonistic to the asset class. Consequently, its need to have direct publicity to cryptocurrencies is no surprise.
In August final yr, JPMorgan offered its purchasers with a chance to spend money on a crypto-focused fund offered by New York Digital Funding Group (NYDIG), a crypto funding administration agency. This adopted an analogous transfer in July during which the financial institution offered its purchasers with a crypto fund from Osprey Funds and 4 funds offered by Grayscale.
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