JPMorgan Chase is exploring loans with client cryptocurrencies as collateral

Foresight News According to the Financial Times, people familiar with the matter revealed that JPMorgan Chase is exploring the possibility of lending with clients’ crypto assets as collateral, another sign that one of the largest banks in the United States is pushing crypto assets into the mainstream financial system. If finally implemented, this policy will mark a major shift in the position of JPMorgan CEO Jamie Dimon. Jamie Dimon once called Bitcoin “a scam” eight years ago, claiming it “will eventually collapse” and is only useful for drug dealers and criminals. JPMorgan Chase may start accepting crypto assets such as Bitcoin and Ethereum as collateral to issue loans directly as collateral as next year, but plans may still change.
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