I’ve been an Amazon Prime member for over a decade.
With next‑day delivery, plus all the streaming perks and holiday deals, it’s a no‑brainer for me and my family.
So when I heard a while ago that Amazon, the world’s second‑largest retailer, might be working on its own stablecoin, I wasn’t surprised.
Nor was I shocked to find out that the world’s top retailer, Walmart, is also reportedly exploring a digital dollar of its own.
You see, a stablecoin is simply a digital token tied to the U.S. dollar. But since it’s transacted through the blockchain, it offers quite a few advantages for retailers like Amazon and Walmart.
Instead of running payments through slow, expensive credit card networks, stablecoins let money move instantly over the internet.
This means vendors can get paid right away instead of waiting days for bank transfers or credit card settlements. By cutting out the middlemen, it also means they aren’t on the hook for credit card fees.
This alone would save these two retail giants a LOT of money.
But stablecoins can also be built into loyalty programs.
This means Prime members could earn “Amazon Dollars” that settle instantly and never expire. Or Walmart could link stablecoin rewards to in-store promotions or discounts on groceries…
Which is why I wouldn’t be surprised if both of these companies end up with their own stablecoins.
And if that happens, it would mark one of the biggest changes to consumer payments since the invention of the credit card.
But news broke this week about a shocking new entrant to the stablecoin race with the potential to make an even bigger impact.
On Monday, it was revealed that America’s largest bank, JPMorgan, quietly filed a trademark for something called “JPMD.”
This is likely shorthand for “JPMorgan Dollar,” a stablecoin that would carry the bank’s name and backing.
In other words, it seems like JPMorgan is preparing to launch its own digital dollar.
And if this initiative succeeds, I believe that it could flip the entire financial system on its head.
Meet The New Boss…
To be clear, JPMorgan already has a stablecoin.
JPM Coin launched in 2019. It was built on the bank’s Quorum blockchain, and it’s used for internal transactions between institutional clients.
The coin has facilitated over $1.5 trillion in settlements to date.
But the JPM Coin is permissioned, which means only certain approved users like the bank’s institutional clients are allowed to use it.
Based on a recent trademark filing, JPMD could be something much bigger and bolder…
A stablecoin anyone could use.
The filing mentions things like digital trading, token creation and clearing payments, which are all just technical ways of saying that JPMorgan wants this coin to move money fast across different platforms.
This means JPMD could show up in your digital wallet one day, just like Venmo or Apple Pay.
But instead of running on old banking rails, it would run on blockchain, making transactions faster, cheaper and available 24/7…
While still being run by one of the biggest and most traditional banks in the world.
This filing suggests that JPMorgan is preparing to go head-to-head with stablecoin leaders like Tether and Circle. Maybe even with Amazon and Walmart, too.
And I find it incredibly ironic.
After all, Jamie Dimon, JPMorgan’s CEO, has long downplayed crypto.
He once called bitcoin “worthless.” He has likened it to a “pet rock.”
He even warned that he’d fire JPM traders dabbling in crypto.
But despite his disdain for bitcoin, Dimon clearly understands the power of blockchain technology.
Last year he said: “Blockchain is real. It’s a technology. We use it. It’s going to move money, it’s going to move data.”
It’s also poised to launch legacy banking into the modern age.
Sure, most banks have apps now.
But their back-end infrastructure is still largely built on decades-old rails. Cashback rewards get processed days later. ACH transfers take forever. And international payments can be a royal pain.
Stablecoins change all that.
They settle instantly. They can automate things like loyalty rewards or payments. And they can integrate directly with the systems we already use, whether it’s your Chase debit card or your Prime account.
That’s why this move could be such a game-changer.
Here’s My Take
The news about JPMorgan’s trademark filing broke just days before the Senate was expected to vote on the GENIUS Act.
I don’t think that’s a coincidence.
Short for “Guaranteed Electronic Notes Issued Under Standards,” the GENIUS Act lays out clear rules for who can issue stablecoins, how they’re backed and what disclosures are required.
The timing of the leak tells me Dimon realized which way the wind was blowing. And he wanted JPMorgan to be ready to stake their claim in what’s shaping up to be one of the most important shifts in modern finance.
The Senate vote happened yesterday…
And the GENIUS Act passed with a strong 68–30 margin.
Now that regulatory clarity is in place, the floodgates are open for institutions like JPMorgan to launch fully compliant digital dollars.
This means stablecoins are headed for the financial mainstream. And we’re about to witness a major upgrade to the traditional financial infrastructure.
It’s funny because Jamie Dimon used to call bitcoin a scam.
But his bank might soon issue the most important digital dollar in the world.
Regards,
Ian KingChief Strategist, Banyan Hill Publishing
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