Wall Street Giant JPMorgan To Let Clients Borrow Money Against Their Bitcoin And Ethereum Holdings ⋆ ZyCrypto
The post Wall Street Giant JPMorgan To Let Clients Borrow Money Against Their Bitcoin And Ethereum Holdings ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
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  American banking behemoth JPMorgan Chase is reportedly exploring a major expansion into crypto-backed lending and is mulling offering loans directly secured by clients’ crypto holdings, marking a major U-turn for the bank, whose CEO once dismissed Bitcoin as a “fraud.” Crypto-Backed Loans The Financial Times reported on Tuesday, citing anonymous individuals privy to the matter, that the bank is considering allowing clients to borrow money against crypto assets such as Bitcoin and Ether as early as next year. Although traditionally cautious, JPMorgan has reportedly already taken preliminary moves in the crypto sector, including giving clients loans against crypto exchange-traded funds (ETFs) like BlackRock’s iShares Bitcoin Trust (IBIT). The bank’s acceptance of direct crypto-backed lending could be a trailblazing move that spurs other Wall Street banks to follow suit, potentially unlocking billions in new credit markets while establishing crypto as acceptable collateral for traditional loans. If the policy is implemented, it would mark a significant turnaround for CEO Jamie Dimon, who has consistently been hostile toward the burgeoning asset class. Dimon infamously labeled Bitcoin a “fraud” eight years ago and proclaimed in 2023 that he would shut it down if he were the government. Advertisement
  Positive Regulatory Changes Open The Door For Banks In May, Dimon announced that the world’s largest bank would begin allowing customers to buy the premier crypto — though he maintained he was still “not a fan” of BTC. And last week, the famous crypto skeptic said JPMorgan intends to be more involved in stablecoins, even as he questioned their practical utility compared to traditional payments. JPMorgan’s moves come amid crypto-friendly regulatory developments in the U.S., with President Donald Trump signing the monumental Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law last week. The legislation has emboldened…
Filed under: News - @ July 22, 2025 7:32 pm