As per the U.S. Patent and Trademark Attorney Michael Kondoudis, JP Morgan & Chase Co, the largest bank in the United States has registered a patent to venture into Web3 with a digital crypto wallet. This wallet is expected to offer services like virtual currency transfer and exchange, crypto payment processing, virtual checking accounts, and financial services. In early November, the bank completed its first cross-border transaction using Polygon, a Layer-2 scalability solution for the Ethereum network.