1 August
JPMorgan considers offering loans backed by cryptocurrency holdings
According to the Financial Times, JPMorgan Chase could start offering loans backed by cryptocurrency holdings, such as Bitcoin and Ethereum, as early as next year.
This move comes as Bank of America and other major financial institutions actively work on developing stablecoins. Another key factor is the increasing push for crypto-friendly regulations in the US.
JPMorgan Chase CEO Jamie Dimon has reaffirmed the bank’s willingness to support the growth of stablecoins, while maintaining his skepticism toward Bitcoin. He argues that the flagship cryptocurrency is still far too risky, citing excessive leverage and its potential role in illegal transactions. That’s why Dimon has outright ruled out storing Bitcoin for JPMorgan’s clients.
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