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JPMorgan Chase is planning to offer loans backed by customers’ cryptocurrency holdings, marking a major step toward crypto adoption by traditional banks. According to the Financial Times, the bank is considering allowing clients to borrow against assets like bitcoin and ether as early as next year. While the plan is still in development, it shows a growing interest in digital assets on Wall Street.
The bank has already taken early steps in the sector, including discussions around lending against crypto exchange-traded funds. This would allow clients to access cash without selling their crypto, a service increasingly in demand. Though details remain under review, the move suggests a deeper commitment to crypto services.
JPMorgan CEO Jamie Dimon has often criticized bitcoin, but in May, he acknowledged the bank would help clients access it. While JPMorgan does not plan to offer custody services, it is now signaling a more open stance on crypto, potentially reshaping the relationship between traditional finance and digital assets.
