JP Morgan, the greatest financial institution in America in line with market cap, plans to enter the crypto house by registering a trademark for cryptocurrency wallets.
Mike Kondoudis, the well-known trademark legal professional, tweeted that the JP Morgan pockets is now a registered trademark for cryptocurrency transfers and associated providers. The United States Patent and Trademark Office granted the software on Nov. 15.
JP Morgan CEO is considered one of the most outstanding critics of crypto.
Jamie Dimon, the CEO of JP Morgan, has bashed Bitcoin and cryptocurrencies on numerous events. According to a Forbes article, The JPMorgan Chase & Co. chief government officer stated in congressional testimony:
I’m a significant skeptic on crypto tokens, which you name foreign money, like Bitcoin…They are decentralized Ponzi schemes.
Jamie Dimon
He has usually known as Bitcoin nugatory, a fraud, a horrible retailer of worth, idiot’s gold, and many others. Most just lately, Daniel Pinto, the President of JP Morgan, known as crypto irrelevant.
The adoption continues regardless of the bear market.
Bitcoin is greater than 75% down from its all-time excessive in Nov. 2021; nonetheless, cryptocurrency adoption continues. Not simply JP Morgan however banks throughout the world are offering cryptocurrency or associated providers. America’s oldest financial institution – BNY Mellon, introduced to supply crypto custody providers.
Union Bank of the Philippines, the largest financial institution in the nation, has its personal peso-pegged stablecoin. Earlier this month, it introduced it will present crypto buying and selling providers. One of the largest banks in Japan – Nomura, will present amenities for institutional purchasers to commerce cryptocurrencies by early 2023. Most just lately, Man Group, the world’s largest publicly listed hedge fund, is reported to develop cryptocurrency buying and selling providers. The hedge fund has over $97 billion in belongings underneath administration.
Outside the headlines, the adoption is seen on-chain as properly. According to knowledge from IntoTheBlock, the complete Bitcoin addresses with steadiness (inexperienced line) have been on a gentle rise since its inception. There are round 43 million Bitcoin wallets with steadiness.
Check out our current article that evaluation whether or not the rising adoption is an indication that the backside is close to right here.
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