JPMorgan’s Crypto Pivot: Banking Giant Considers Offering Crypto-Backed Loans To Customers
The post JPMorgan’s Crypto Pivot: Banking Giant Considers Offering Crypto-Backed Loans To Customers appeared on BitcoinEthereumNews.com.
Key Insights: JPMorgan is looking into crypto-backed loans secured by Bitcoin and Ether, with a possible launch date by next year. CEO Jamie Dimon, once a vocal crypto critic, has softened his stance and now defends clients’ rights to buy Bitcoin. The bank’s interest in digital assets is in line with industry moves from competitors like Citigroup. JPMorgan Chase, the largest bank in the United States, is reportedly preparing to enter the crypto-backed loan market. This move would mark a major change in how trad-fi institutions engage with crypto. According to a report from the Financial Times, the bank is considering offering loans secured directly by cryptocurrencies like Bitcoin and ETH. From Bitcoin As A ‘Fraud’ to Financial Innovation JPMorgan CEO Jamie Dimon has long been one of Wall Street’s most outspoken crypto critics. Back in 2017, he famously called Bitcoin a “fraud” and threatened to fire any employee trading it on company accounts. Over the years, he also doubled down on his skepticism and labelled cryptocurrencies as “scams” in 2018 and “decentralized Ponzi schemes” in 2022. Despite his harsh words, recent times have seen Dimon acknowledge the power of blockchain technology, smart contracts and defi. He has repeatedly stated that while he doesn’t personally support cryptocurrencies, he understands that some clients do. Because of this, JPMorgan needs to keep up with its interests. Now, his position appears to be changing. In May of this year, Dimon remarked, “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.” Jamie Dimon has pivoted. JP Morgan will offer lending against Bitcoin, but they won’t custody. https://t.co/3uuTPRwhuj pic.twitter.com/1qFCwbGBT6 — Ram Ahluwalia CFA, Lumida (@ramahluwalia) July 22, 2025 From ETFs to Real Crypto JP Morgan has always been cautious when it comes to…
Filed under: News - @ July 23, 2025 2:28 am