Wall Street bank comes up with bitcoin wallet

Last Updated: 23 November 2022

JPMorgan has filed a trademark for a new wallet for digital assets. This is according to a recent filing with the United States Trademark and Patents Office (USTPO).

The name is J.P. Morgan Wallet and it is supposed to facilitate the exchange of various crypto currencies such as bitcoin, in addition to normal payments via dollars.

JPMorgan cryptowallet

The description includes the following:

This is not the first time the banking giant has been in the news. The Wall Street bank is also involved in a blockchain pilot with Singapore’s DBS Bank and Japan’s SBI Digital Asset Holdings. The service that examines bitcoin and related technologies for usability is called Onyx within JPMorgan.

Recently, a former director of bankrupt Celsius joined the bank. As recently as February this year, analysts at the bank predicted a $150,000 exchange rate for bitcoin, something that has by no means materialised in 2022. Indeed, the price is at its lowest point in the past two years.

JPMorgan Chase accounted for $121 billion in revenue and a net profit of $48 billion in 2021. About 255,000 people work at this bank.

  • Ivan Brightly

    Ivan Brightly is a leading cryptocurrency analyst and author with over 5 years of experience in the blockchain and digital asset space. He previously served as a senior analyst at a major cryptocurrency hedge fund where he led quantitative research and trading strategy development.

    Ivan holds a Master's degree in Finance from the London School of Economics and a Bachelor's in Computer Science from Stanford University. He is frequently invited to speak at fintech and blockchain conferences worldwide on topics spanning cryptocurrency trading, blockchain technology, and the future of digital assets.

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