Despite the fact that JPMorgan CEO Jamie Dimon is anti-cryptocurrency, the bank has registered a trademark for a crypto wallet to meet the needs of customers.
Licensed trademark attorney Mike Kondoudis tweeted that on Nov. 15, the United States Patent and Trademark Office (USPTO) approved the application of JP Morgan & Chase Co., a major financial company. As stated in the application, using a cryptocurrency wallet, bank customers will be able to transfer and exchange digital assets.
Other features include cryptocurrency payment processing, virtual checking accounts, and financial services. Judging by the application of the bank, the new digital wallet will be used to process cryptocurrency payments, but it is not specified which cryptocurrencies will be involved.
JPMorgan CEO Jamie Dimon himself considers investing in cryptocurrencies risky, although he acknowledged a few months ago that payments in cryptoassets can be made much faster compared to fiat currencies. Dimon believes that if customers have a demand for digital assets, you need to provide them with the necessary products, regardless of his personal opinion on this issue.
In October 2020, the bank used its own stablecoin JPM Coin for commercial payments for the first time. At the same time, JPMorgan management announced the Onyx project to explore the possibilities of blockchain.
But, as for the future course of bitcoin, JPMorgan analysts are pessimistic. Recently, they suggested that due to the troubles with the FTX exchange, the price of bitcoin will continue to fall and may drop to $13,000.
Source: Bits
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