JP Morgan Bank Makes its own Crypto Wallet

JPMorgan Chase Bank has been awarded trademark registration for “J.P. Morgan Wallet” by the United States Patent and Trademark Office (USPTO) for use in a variety of financial activities, including virtual currency transfers and exchanges as well as crypto payment services. JP Morgan Bank Makes its own Crypto Wallet.

JPMorgan Chase’s Wallet Trademark

The USPTO has accepted PMorgan Chase Bank’s application to register a trademark for a wallet (USPTO). The USPTO-licensed trademark lawyer Mike Kondoudis tweeted on Monday that “J.P. Morgan Wallet” had been officially registered as a trademark.

The trademark owner is identified as JPMorgan Chase Bank N.A. The bank’s trademark registration was approved by the USPTO on November 15; the application date was July 24, 2020.

bank’s trademark registration on Nov. 15; the application date was July 24, 2020.

JPMorgan Chase Granted Wallet Trademark for Covering Virtual Currency and Crypto Payment Services

The services listed for the J.P. Morgan Wallet trademark include “electronic transfer of virtual currencies,” “financial exchange of virtual currencies,” and “cryptocurrency payment processing,” the USPTO website shows.

What Is a J.P. Morgan Wallet and How Does It Work?

The J.P. Morgan Wallet, a feature of the bank’s e-commerce service for retailers, is covered in greater detail on the JPMorgan website. According to the company, the wallet is:

Real-time virtual sub-ledgers that help manage and scale any number of customer, supplier and vendor payments in an organized, easy-to-reconcile way.

On the website, it is noted that the wallet is utilized “globally for administration of highly-scalable virtual accounts in real-time” and that it links “through APIs to assist streamline domestic and cross-border receivables and disbursements.”

The multinational banking corporation went on to state that it was “creating sophisticated payment solutions like linked mobility solutions and blockchain platforms that can let you communicate more to the world.” The blockchain-based ecosystem of the company is referred to as Onyx by J.P. Morgan.

According to JPMorgan, Onyx has its own coin system that allows for “rapid transfer and clearance of multi-bank, multi-currency assets on a permissioned distributed ledger.” Its first commercial solution is called JPM Coin. According to the business, JPM Coin is “a permissioned system that acts as a deposit account ledger and payment rail that enables participating J.P.

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