The major US bank JP Morgan has one patent submitted for the JP MORGAN WALLET. You already guessed it: It’s about a crypto wallet. According to the patent, the wallet should be able to store and transfer “virtual currencies”. In addition, it should serve as a digital money market account for cryptocurrencies and be able to process “financial services”. What exactly that means and when the wallet will be ready for series production remains to be seen.
The step surprises. After all, Jamie Dimon, CEO of the bank, is a high-profile Bitcoin critic. Most recently, the banker settled accounts with Orange Coin in the US Congress and described cryptocurrencies as “decentralized Ponzi schemes”.