JP Morgan now accepts crypto as loan collateral
JP Morgan has started accepting shares of BlackRock’s iShares Bitcoin Trust (IBIT) as collateral for loans.
The bank plans to let trading and wealth-management clients use some crypto-linked assets, such as spot bitcoin exchange-traded funds (ETFs), as collateral for loans. Starting in the upcoming weeks, JP Morgan will provide financing backed by shares of IBIT, according to Bloomberg. For some clients, the bank will also factor crypto holdings into assessments of net worth and liquidity, putting them at the same level as traditional securities like stocks.
US banks adopting crypto services
The decision comes as the bank shifted its stance on cryptocurrencies and digital assets. Up until this point, the bank has been…
