"JP Morgan Wallet" is officially registered
Nov 21, 2022
"JP Morgan & Chase Co. is the largest bank in the United States and one of the largest financial companies in the world. It was created in the year 2000 from the merger of Chase Manhattan Bank with J.P. Morgan & Co. and is one of the oldest banks in the world, dating back to 1799."
According to a document recovered from a patent application, JP Morgan registered a cryptocurrency wallet brand, aptly titled “JP Morgan Wallet.”
In trademark registration, it is defined that the product intends to support the transfer of virtual currencies, exchanges, and processing of payments with cryptocurrencies.
According to information obtained from the documents, JP Morgan applied for trademark registration in July 2020.
The fact is curious, not only because JPMorgan has already criticized Bitcoin on several occasions, but also because the trademark application occurred in July, when the cryptocurrencies were on the rise.
Two years have passed since then and we find ourselves in one of the most volatile moments, followed by different scandals that have opened up problems in the sector (Luna and FTX).
With so many giants collapsing and giving the industry a bad name, will JPMorgan really go ahead with the idea that took 2 years to come to fruition?
Recently the CEO of JPMorgan again criticized Bitcoin, calling it a useless currency, however recently the bank seemed to be more favorable to cryptocurrencies.
In August 2021, the bank began allowing its clients to invest in cryptocurrency funds through a partnership with New York Digital Investment Group, a cryptocurrency investment firm.
But it is worth remembering that in 2021 the market was better. So is JPMorgan simply riding the wave of greed, switching sides every time the tide turns?
If the portfolio project goes ahead, it will be a good addition to the market, as one of the largest and most traditional banks in the US will be able to actively operate in the sector, endorsing the industry.
This has really shocked the whole world and Twitter has exploded in the last few hours, being trending. The BTC maximalists will now think that it is only a wallet for Bitcoin, but it is not, since the document itself mentions that it is for virtual currencies. In other words, everithing will be included, so surely the BCH will also have its space in that wallet.
Times despite being difficult, there is a light at the end of the tunnel. Maybe even a whale appears and wants to buy hundreds of BTC and the market picks up strength at that time. My only regret is that I froze and not continued trading futures, a short now would have been epic. But perhaps if it had, the market would have gone in the opposite direction.
We will see how this magnificent news continues to develop and the repercussions it brings on a large scale in the coming days.
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Disclaimer: This article is presented as it is, it is my personal opinion. There is no plagiarism in it and the sources have been referenced.
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