JPMorgan Chase & Co., the largest US bank by assets and market capitalization, has filed a trademark application for what appears to be a new blockchain-based asset called JPMD, sparking speculation that this move may be tied to a potential stablecoin offering.

According to the filing, the application has been accepted by the US Patent and Trademark Office. The trademark filing describes a system for trading digital assets, exchanging, transferring, and providing payment services. It also includes potential applications for issuing blockchain-based assets, brokerage services, and electronic money transfers.

Although the term "stablecoin" is not explicitly mentioned in the filing, it outlines a broad range of "goods/services" that cover nearly every corner of the digital asset ecosystem, from clearing to data transfers. Notably, the filing mentions debt settlement functions and brokerage services using distributed ledger technology, suggesting the trademark may play a role in the real-world asset sector.

JPMorgan Chase has not yet provided any official comments regarding JPMD, but industry experts speculate that this could be part of the bank's broader expansion into digital assets. The bank had previously introduced JPM Coin, a digital token designed for wholesale payments between corporate clients.

The JPMD filing may signal JPMorgan Chase's intention to develop a broader range of blockchain solutions targeting both institutional and retail clients. It is worth noting that stablecoins, cryptocurrencies pegged to stable assets such as the US dollar, are becoming increasingly popular as a means of facilitating fast and low-cost digital transactions. If JPMD does turn out to be a stablecoin, it could significantly impact the digital payments landscape, especially given JPMorgan Chase's scale and influence in the financial markets.

However, it is important to emphasize that filing a trademark application does not necessarily indicate an imminent product launch. Many companies register trademarks to protect intellectual property and secure future opportunities. Nevertheless, this move by JPMorgan Chase certainly deserves attention and adds intrigue to the growing integration of blockchain technology into the traditional financial sector.

It is also worth noting that this is not JPMorgan's first venture into the crypto industry. The bank was among the first to explore blockchain technology extensively through its permissioned fork of Ethereum known as Kinexys (formerly Onyx) and its associated JPM Coin. Now rebranded as Kinexys Digital Payments, JPM Coin functions as a highly specialized stablecoin pegged 1:1 to the US dollar, British pound, or the euro. Kinexys was developed to improve interbank, intrabank, and cross-border transfers and has reportedly processed over $1.5 trillion in cumulative transactions.

Trading recommendations:

Bitcoin technical picture:

Buyers are currently targeting a return to the $107,400 level, which would open a direct path to $108,100, with $108,700 just beyond. The furthest target is the high near $109,700. A breakout above this level would signal a strengthening bullish market. In case of a pullback, buyers are expected at the $106,800 level. A move below this zone could quickly drag BTC down toward $106,300, with $105,700 as the deepest target.

Ethereum technical picture:

A firm hold above $2,607 opens the way toward $2,647. The furthest target is the high near $2,682, with a breakout above signaling renewed buyer interest. In case of a decline, buyers are expected near $2,568. A move below this area could send ETH quickly toward $2,541, with $2,509 as the furthest target.

What we see on the chart:

Red levels: support and resistance zones where price may either slow down or surge.

Green lines: 50-day simple moving average.

Blue lines: 100-day simple moving average.

Light green lines: 200-day simple moving average.

The intersection or testing of these moving averages typically either halts the market or provides new momentum.