On June 15, 2025, JP Morgan Chase filed a trademark application for “JPMD” with the U.S. Patent and Trademark Office (USPTO), igniting speculation within the financial and crypto communities that the multinational banking giant may be preparing to launch a new stablecoin or digital asset service.
Source: USPTO
From a trademark law perspective, the question is not just what JPMorgan plans to do with JPMD, but whether the mark is likely to be successfully registered and what this filing tells us about the broader landscape of digital asset trademarks.
Trademark filing details: A wide net
The application for “JPMD” was filed in International Class 036, covering financial services. This includes a sweeping range of services: from electronic funds transfers, blockchain-based payment processing, and trading of digital tokens, to clearing and reconciling financial transactions via distributed ledger technology. While the term “stablecoin” is absent, the language of the application leaves little doubt that JPMD is meant to operate within the emerging realm of digital finance, with functionality that mirrors existing stablecoin applications.
From a legal standpoint, what matters is not speculation over the product’s nature, but whether the mark is used (or intended to be used) in commerce in connection with the specified services. Here, the language is highly aligned with existing blockchain and digital asset service filings—carefully crafted to allow flexibility while preserving protection.
How strong Is “JPMD” as a trademark?
One of the first questions in evaluating a trademark application is whether the proposed mark is distinctive and non-generic. "JPMD" is a coined term, and is therefore inherently distinctive, strengthens its chance of passing the USPTO’s evaluation.
When evaluating the likelihood of confusion, the USPTO typically compares marks for phonetic, visual, and conceptual similarity, as well as overlapping services. “JPM” is a common prefix used in JP Morgan’s prior marks (e.g., “JPM Coin,” “JPMorgan Chase”), which supports the argument that “JPMD” fits JP Morgan’s established branding, making it stands out enough to reduce the likelihood of rejection on confusion grounds.
Industry trend: Trademarking digital assets
JP Morgan is no stranger to digital asset-related trademarks. The firm previously filed for “JPM Coin,” which was tied to their proprietary blockchain payment system launched under the Onyx division (now rebranded as Kinexys). That earlier filing, similarly framed under Class 036, was eventually registered after clearing procedural hurdles. The same playbook appears to be in use here.
Source: USPTO
JP Morgan’s approach mirrors that of other financial giants and fintechs entering the digital asset space. Circle, the issuer of USDC, holds several trademarks, including “Circle” and “USDC,” covering similar services. Likewise, PayPal has filed trademarks for “PayPal Coin,” and Visa has filings related to blockchain and digital wallet services.
Beyond crypto-native companies, traditional financial institutions such as Fidelity, Goldman Sachs, and Mastercard have expanded their trademark portfolios to include digital currency services. These filings are increasingly comprehensive, aiming to reserve branding rights across potential service categories—often well before the products are market-ready.
Importantly, the USPTO has shown a willingness to register such marks, provided the applicants demonstrate genuine intent to use and eventually provide appropriate specimens of use.
