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JPMorgan Chase Granted Wallet Trademark Covering Various Virtual Currency and Crypto Payment Services – Featured Bitcoin News

The United States Patent and Trademark Office (USPTO) has granted JPMorgan Chase Bank’s trademark registration for “J.P. Morgan Wallet” to be used in a variety of economic providers, together with digital foreign money transfers and exchanges, in addition to crypto fee providers.

JPMorgan Chase’s Wallet Trademark

JPMorgan Chase Bank has efficiently registered a pockets trademark with the United States Patent and Trademark Office (USPTO). Mike Kondoudis, a USPTO-licensed trademark lawyer, tweeted Monday that “J.P. Morgan Wallet” is now a registered trademark.

JPMorgan Chase Bank N.A. is listed because the trademark proprietor. The USPTO granted the financial institution’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 providers listed for the J.P. Morgan Wallet trademark embrace “electronic transfer of virtual currencies,” “financial exchange of virtual currencies,” and “cryptocurrency payment processing,” the USPTO web site exhibits.

JPMorgan Explains What J.P. Morgan Wallet Is and How It Works

The JPMorgan web site supplies extra details about the J.P. Morgan Wallet, which is a part of the financial institution’s e-commerce service for retailers. The agency described the pockets as:

Real-time digital sub-ledgers that assist handle and scale any variety of buyer, provider and vendor funds in an organized, easy-to-reconcile approach.

The web site provides that the pockets connects “via APIs to help simplify domestic and cross-border receivables and disbursements,” noting that it’s used “globally for management of highly-scalable virtual accounts in real-time.”

The banking big additional defined that it’s “developing sophisticated payments solutions like connected mobility solutions and blockchain platforms that can help you say more to the world.” The agency’s blockchain-based ecosystem is named Onyx by J.P. Morgan.

Onyx has its personal coin system that allows “instant transfer and clearing of multi-bank, multi-currency assets on a permissioned distributed ledger,” JPMorgan detailed, including that its inaugural product answer is JPM Coin. The agency described JPM Coin as “a permissioned system that serves as a payment rail and deposit account ledger that allows participating J.P. Morgan clients to transfer U.S. dollars held on deposit with J.P. Morgan within the system.”

What do you consider JPMorgan Chase acquiring a trademark for J.P. Morgan Wallet? Let us know within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

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