Tokenization Weekly - No. 79

🚀 Crypto & Blockchain Weekly Digest: June 16–22, 2025

1️⃣ JPMorgan Files Trademark for "JPMD" Digital Asset Platform 🏦

- Strategic expansion: JPMorgan Chase filed a trademark application for "JPMD," a crypto-focused platform that will offer trading, exchange, transfer, and payment services for digital assets, as well as digital asset issuance. The bank confirmed plans to launch JPMD as a stablecoin-like "deposit token" on Coinbase's Ethereum-based Base blockchain, available exclusively to institutional clients.

- Industry significance: The move represents a major shift for CEO Jamie Dimon, who previously criticized cryptocurrencies but now says the bank will allow clients to buy Bitcoin . JPMorgan operates the Kynexis blockchain payments network that processes over $2 billion in daily transaction volume.

- Market positioning: The trademark filing positions JPMorgan to compete directly in crypto custody and tokenized payments as regulatory clarity improves, with JPMD enabling round-the-clock settlement and interest-paying mechanisms.

2️⃣ Iran's Largest Crypto Exchange Nobitex Hacked for $90M in Politically Motivated Attack 🔐

- Geopolitical hack: Iranian cryptocurrency exchange Nobitex was hacked for over $90 million by pro-Israel group "Predatory Sparrow" (Gonjeshke Darande) on June 18, with stolen funds transferred to vanity addresses containing anti-IRGC messages . The attack was politically motivated rather than financially driven, as hackers effectively "burned" the funds by sending them to wallets without private key access .

- Exchange impact: As Iran's largest digital asset platform facilitating the majority of the country's crypto activity, Nobitex's compromise marks a major blow to Iran's heavily sanctioned crypto ecosystem . The platform's website remained inaccessible following the breach .

- Broader context: The hack followed the group's Tuesday attack on Iran's state-run Bank Sepah and occurred amid escalating tensions between Israel and Iran . Hackers also leaked Nobitex's full source code on Thursday .

3️⃣ JD.com to Launch Global Stablecoin After Admitting "Lost" Five Years 💰

- Strategic pivot: Chinese e-commerce giant JD.com announced plans to launch six new projects, most notably a global stablecoin, after founder Richard Liu admitted the company had "squandered" the past five years with failed business models and declining market share . Liu described the period as "lost" during a media briefing on June 17 .

- Stablecoin ambitions: The company aims to secure stablecoin licenses in all major currency jurisdictions to enable instant, low-cost foreign exchange settlements between businesses, slash cross-border payment costs by up to 90%, and shorten transaction times to under 10 seconds . JD.com's subsidiary already launched JD-HK in April, the first stablecoin issued by a physical enterprise in Hong Kong, pegged 1:1 to the Hong Kong dollar .

- Business transformation: The announcement comes as JD.com's revenue rose at the fastest pace in three years in Q1 2025, driven by new initiatives like food delivery where it competes with Meituan, and follows the company's acquisition of a consumer finance firm . Liu also revealed agreements with 1,000 Chinese brands for overseas expansion within five years .

4️⃣ Michael Saylor Predicts Bitcoin to Reach $21 Million by 2046 💰

- Bold forecast: MicroStrategy founder Michael Saylor projected Bitcoin will reach $21 million per coin by 2046, representing a 21% compound annual growth rate over 21 years . Saylor emphasized the symbolic significance of "21," referencing Bitcoin's 21 million total supply cap .

- Volatility warning: Despite the bullish long-term outlook, Saylor predicted a volatile path to $21 million, though he expects Bitcoin to continue outperforming the S&P 500 annually until 2046 . He maintains Bitcoin will remain "the best capital asset a company can hold" .

- Current context: The prediction comes as Bitcoin trades around $102,000, holding above $100,000 despite recent market volatility from geopolitical tensions .

5️⃣ Spanish Bank BBVA Recommends 3-7% Bitcoin Allocation for Wealthy Clients 🏛️

- Banking milestone: BBVA became one of the first major banks to actively recommend Bitcoin allocation to wealthy clients, advising 3-7% portfolio allocations depending on risk tolerance . The recommendation represents a rare instance of a major bank proactively suggesting crypto investments rather than merely executing client requests .

- Risk assessment: BBVA's head of digital & blockchain solutions Philippe Meyer stated that a 3% Bitcoin allocation "already boosts performance" without taking "huge risk" in a balanced portfolio . The bank has been executing client Bitcoin purchases since 2021 and now formally advises allocations to both Bitcoin and Ether .

- Regulatory environment: The move comes despite European Securities and Markets Authority data showing 95% of EU banks do not engage in Bitcoin activities, with BBVA clients reportedly responding positively to the new guidance .