PANews reported on June 17 that according to Watcher.Guru, JPMorgan Chase has applied for the "JPMD" cryptocurrency trading and payment service trademark, which may indicate that it will launch a stable currency denominated in US dollars, JP Morgan Dollar. The new trademark covers functions such as crypto asset trading, payment, and custody. Previously, the bank has opened Bitcoin purchase channels to customers and accepted crypto ETFs as loan collateral. Although CEO Jamie Dimon once called Bitcoin a "Ponzi scheme," the bank is now rapidly embracing crypto finance.