JPMorgan Plans Crypto Collateral Loans Starting 2024
JPMorgan Chase, the largest U.S. bank, is reportedly planning to utilize customer crypto assets as loan collateral starting in 2024. This move, revealed by unnamed sources, signifies a significant shift in the bank’s approach to digital assets. By accepting cryptocurrencies as collateral, JPMorgan aims to tap into the growing demand for crypto-related financial services and attract a new segment of clients who hold substantial crypto holdings. This strategy could potentially open up new revenue streams for the bank, as it would allow customers to leverage their digital assets without having to sell them, thereby avoiding potential capital gains taxes.
The decision to accept crypto as collateral reflects a broader trend within the…
