A JP Morgan exec warned of an "overcrowding" stablecoin market as the bank applies to trademark JPMD for a "virtual currency" product.

JPMorgan’s trademark filing hints at a broader crypto push, fueling speculation of a bank-backed stablecoin and blockchain-based payments.

Bank of America is working on its own stablecoin, signaling major movement in traditional finance's adoption of crypto.

JPMorgan Chase has filed a trademark application for “JPMD,” for it may be reportedly launching USD-backed stablecoin, J.P. Morgan Dollar.

French bank Societe-Generale has launched a US Dollar pegged stablecoin known as USD CoinVertible (USDCV). The bank's cryptocurrency division SG-FORGE

JPMorgan’s trademark filing for "JPMD" has fueled speculation about a potential stablecoin launch, but details remain unclear.

The bank is also weighing a tokenized deposit system to make payments more efficient, as regulatory clarity and pending legislation accelerate stablecoin adoption.

The French institution is one of the first to take advantage of new regulations that are supportive of crypto. Payment experts say banks have work to do to beat existing stablecoins.

Bank of America could launch a stablecoin, its CEO said earlier this year, and some other large banks are considering issuing a joint stablecoin. Tether is the world's largest stablecoin issuer.

According to a report by the Wall Street Journal, Amazon and Walmart are mulling plans to introduce a US dollar-backed stablecoin. The final decision regarding the stablecoin issuance will largely depend on the progress of the GENIUS Act. The introduction of a stablecoin would divert billions from the traditional financial system.