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JPMorgan Weighs Crypto Asset-Based Lending

Crypto News

Banking giant J.P. Morgan Chase is reportedly considering lending against its customers’ cryptocurrency holdings.

That’s according to a report Tuesday (July 22) from the Financial Times (FT), which calls the proposed plan the latest signal that big banks are supporting crypto’s mainstreaming. 

Such a policy, the report adds, would mark a major shift for J.P. Morgan CEO Jamie Dimon, who has called bitcoin a “fraud” only used by criminals, though he later disavowed those comments.

Now, the bank is weighing a plan that would involve lending directly against crypto assets such as bitcoin and ethereum, the FT said, citing sources familiar with the matter. 

One source told the FT that Dimon’s comments about bitcoin had…

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