JP Morgan launches its own competing stablecoin

Twelve_E
06-17

Here’s the sequence of events for Circle $Circle Internet Corp.(CRCL)$ :

JP Morgan takes Circle $CRCL public capping proceeds at $31/sh

Media and speculators run it up to $165 into the GENIUS Act vote

JP Morgan research initiates research coverage with a “Hold - price target $100”

JP Morgan launches its own competing stablecoin

The largest bank in the world @JPMorgan , just filed a trademark application for the name “JPMD." The filing suggests JPMorgan may be preparing to launch a U.S. dollar-backed stablecoin. The trademark covers services including digital token issuance, electronic transfers of virtual currencies, and clearing and settlement of financial assets.

JPMorgan already operates JPM Coin via its Onyx blockchain platform, used for institutional transfers.

The bank previously explored tokenized deposits and blockchain-based settlement mechanisms.

The timing may reflect JPMorgan’s effort to position itself ahead of upcoming regulations and widen its digital finance infrastructure.

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Circle Dumping Risk? Cash Out at $150 or Time to Bottom?
Circle beats revenue but fell as it 5% as it files to sell 10M shares of Class A common stock. Circle reported a net loss of $482 million in the second quarter, compared with a $33 million profit a year ago. Revenue increased by 53% to $658 million, surpassing Wall Street estimates of $646 million.
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