JPMorgan considers lending against clients’ crypto assets
JPMorgan Chase is exploring a move to lend against clients’ cryptocurrency holdings, signaling a significant step toward the mainstream adoption of digital assets by traditional financial institutions.
The potential policy shift would mark a notable turn for JPMorgan CEO Jamie Dimon, who once denounced bitcoin as a “fraud” that would “eventually blow up” and claimed it was mainly used by “drug dealers and murderers.” In 2017, Dimon even said he would fire any trader at JPMorgan who dealt in cryptocurrencies, the Financial Times reports.
However, according to FT sources familiar with the matter, JPMorgan could begin lending directly against cryptocurrencies such as bitcoin and ethereum as early as next year. The plans are…
