Image generated by CariGold
JPMorgan is eyeing a major expansion into crypto-backed lending and is considering offering loans secured directly by clients’ cryptocurrency assets—including bitcoin (BTC) and ether (ETH), according to a report by the Financial Times.
With the bullish crypto regulatory environment under the Trump administration, JPMorgan may launch these crypto‑backed loans as soon as next year, the report said, citing people familiar with the matter.
Traditionally cautious, JPMorgan already allows clients to borrow against crypto exchange-traded funds (ETFs), such as BlackRock’s iShares Bitcoin Trust (IBIT).
This next phase would deepen its commitment to digital assets, marking a shift under CEO Jamie Dimon’s leadership — who infamously labeled bitcoin a “fraud” eight years ago.
Last week, Jamie Dimon said that the bank plans to get more involved in stablecoins, even as he questioned their practical utility compared to traditional payments.
This article has been published in coindesk.com via Yahoo News.
