Catenaa, Thursday, June 19, 2025- A JP Morgan executive expressed concerns over the growing fragmentation and potential “overcrowding” in the stablecoin market as the bank recently filed a trademark for JPMD, hinting at plans to launch its own digital currency.
Emma Lovett, executive director overseeing JP Morgan’s markets distributed ledger technology and credit efforts, spoke at the DigiAssets 2025 conference Tuesday.
She urged the industry to pause and consider whether the proliferation of bank-issued stablecoins could lead to market saturation and fragmentation.
Less than 48 hours before Lovett’s remarks, JP Morgan registered the JPMD trademark for use in payments, virtual currency, and digital currency services. The move is seen by analysts as a likely precursor to JP Morgan introducing its own stablecoin.
JP Morgan is reportedly among several major US bank, including Bank of America, Citigroup, and Wells Fargo, that are exploring stablecoin partnerships.
However, their plans hinge heavily on the passage of stablecoin legislation, particularly the bipartisan GENIUS Act.
Meanwhile, European regulators face criticism for lagging behind the US and Asia in embracing digital currencies, a concern voiced at the same conference by a Franklin Templeton executive.
