Official registration of a cryptocurrency trademark by JP Morgan

Key points:

• JP Morgan has officially registered a cryptocurrency trademark "JP Morgan Wallet".
• It aims to support virtual currency transfers, cryptocurrency transactions, and payment processing.
• At best, the launch and development of the JP Morgan Wallet is a good sign that the market continues to expand.

In documents retrieved from an authorized U.S. Patent and Trademark Office application, JP Morgan has officially registered a cryptocurrency trademark. The brand, called "JP Morgan Wallet," aims to support virtual currency transfers, cryptocurrency transactions, and payment processing.

America's largest bank is now deep in the cryptocurrency market. JPMorgan will offer bitcoin exchange services to its clients through the newly developed brand.

Introducing JP Morgan Wallet

Original reporting by Mike Koundoudis. JP Morgan Wallet has registered for "virtual currency transfers + exchanges, cryptocurrency payment processing, virtual checking accounts, and financial services," his tweet said.

Below the official documentation, clearer official product images have emerged. By registering, JP Morgan Wallet will be able to provide services related to cryptocurrency transfers on the blockchain, cryptocurrency exchange, payment processing by credit or debit card, and creation and management of virtual accounts.

According to The Crypto Basic, JPMorgan applied for the trademark in July 2020. Also, it will be interesting to see how JPMorgan Wallet performs in what may be the most volatile market ever. Hence, following the disruption of FTX, one of the largest trading platforms in the cryptocurrency market, volatility ensued.

In August 2021, JPMorgan began offering its clients the opportunity to invest in cryptocurrency funds. This is a service provided by New York Digital Investment Group, a cryptocurrency investment firm. The move then preceded its continued expansion into the virtual currency market.

At best, the launch and development of the JP Morgan Wallet is a good sign that the market continues to expand. Finally, one of the largest banks in the US is embracing the currency.