Investors Have Lost Faith in Crypto Exchanges. JPMorgan Sees an Opportunity.

A string of crypto business failures has stranded millions of dollars in customer funds this year, underscoring the level of trust needed for groups that are custodians of digital assets.

JPMorgan Chase


may see an opportunity.

The U.S. Patent and Trademark Office on Nov. 15 approved a trademark for “J.P. Morgan Wallet,” positioning the largest U.S. bank to possibly expand into crypto custody solutions. The trademark registration, published on Monday, came following a July 2020 filing by

JPMorgan Chase


(ticker: JPM).

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