Banking giant JPMorgan Chase’s application for a trademark for a digital wallet with crypto features has been awarded by the U.S. Patent Office after more than two years in application status. According to a filing with the U.S. Patent and Trademark Office, the bank filed a trademark for “JP Morgan Wallet” in July 2020; the filing was finally approved on November 15.
The text of the trademark indicates that it can be applied to online services, including cryptocurrency payment processing, the electronic transfer of virtual currencies by an online community, and the exchange of virtual currencies.
The trademark does not exclusively apply to crypto services. It can also be applied to other financial services, including virtual checking accounts, Automated Clearing House (ACH) payments, e-check processing, and bill payments. Though JP Morgan has not yet applied the trademark to a full-fledged crypto wallet, it has made several inroads into the blockchain industry over the past several months.
On November 2, the company performed an international currency swap using the Polygon blockchain. It performed that transaction with two Singapore-based banks, DBS Bank and SBI Digital Asset Holdings. Additionally, JP Morgan partnered with Visa on October 11. That partnership aimed to integrate JP Morgans’s blockchain product Liink with Visa’s B2B Connect network.