JPMorgan plans to accept Bitcoin, Ethereum as loan collateral by year-end
Crypto Briefing
JPMorgan plans to allow institutional clients to use Bitcoin and Ether as loan collateral by the end of the year.Summary
JPMorgan Chase is preparing to allow its institutional clients globally to use Bitcoin and Ether as collateral for loans and financial operations, with the program expected to launch by year-end. The bank will utilize a third-party custodian to secure these digital assets. This initiative is part of a broader strategy to facilitate borrowing against crypto-related assets and incorporate crypto holdings into wealth management clients' net worth assessments. Additionally, the bank is reportedly set to allow trading and wealth-management clients to use crypto ETFs, starting with BlackRock’s iShares Bitcoin Trust, as loan collateral.
(Source：Crypto Briefing)