US EditionJamie Dimon Once Called Bitcoin A 'Fraud'—Now JPMorgan Might Lend Against It
UNITED STATES, JUL 22 – JPMorgan plans to let clients borrow cash using Bitcoin and Ethereum as collateral, aiming to launch by 2026 amid clearer U.S. regulations and growing demand, sources say.
- According to a July 22 FT report, JPMorgan Chase is exploring cash loans backed by Bitcoin and Ethereum, with clients potentially pledging digital assets without selling them.
- Amid clearer crypto rules under the Trump administration, JPMorgan's move to offer Bitcoin and Ethereum-backed loans reflects evolving attitudes and regulatory shifts.
- To protect against volatility, the bank would require large collateral cushions, and use third-party custodians, allowing direct crypto pledges instead of ETFs.
- Other banking giants are already accelerating their stablecoin plans, signaling that crypto is no longer just a risky investment, as JPMorgan's move sends a strong message.
- Market analysts predict the scheme could unlock broader financial integration and liquidity, as JPMorgan’s crypto-backed loans hinge on regulatory clearance, potentially launching as early as 2026.
48 Articles
48 Articles
Eight years ago, JPMorgan Chase CEO Jamie Dimon called bitcoin a “fraud” that would “eventually explode” and be useful only to drug dealers and murderers. But he has since changed his mind, and the banking giant is now preparing to lend against the cryptocurrencies held by its clients.
The Node: JPM’s BTC Lending Play
The Financial Times reports that JPMorgan, the world’s biggest bank, is looking into issuing crypto-backed loans, meaning that its clients may soon be able to pledge bitcoin, ether, or some other token to borrow dollars.The news is notable for a couple of reasons. Crypto folks love pointing out that Jamie Dimon, the bank’s chief executive, famously said in 2017 that he’d fire any employee caught trading bitcoin for being “stupid,” so JPMorgan co…
Good morning! The major US bank JPMorganChase is considering accepting cryptocurrencies as collateral for loans. The Financial Times reported this on…
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