JPMorgan Unlocks Crypto for Big-Money Loans
This article first appeared on GuruFocus.
JPMorgan Chase & Co. (NYSE:JPM) is preparing a move that could redefine how Wall Street treats digital assets. By the end of the year, the bank will allow institutional clients to pledge Bitcoin (BTC-USD) and Ether as collateral for loans a first-of-its-kind step for a major U.S. lender. The program, which will use a third-party custodian to safeguard tokens, expands on JPMorgan’s earlier acceptance of crypto-linked ETFs as collateral. With Bitcoin rallying this year and the Trump administration easing crypto regulations, JPMorgan’s decision signals that digital assets are no longer living on the financial fringe they’re entering the mainstream of bank financing.
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