JPMorgan Eyes Crypto-Backed Loans With Bitcoin and Ether in 2025
Summary
JPMorgan Chase is exploring the possibility of offering crypto-backed loans, potentially changing US banks' perspectives on crypto assets. Plans may include lending against Bitcoin and Ether by 2026, though they are subject to change. CEO Jamie Dimon expressed interest in stablecoins during a July earnings call, indicating the bank's intention to engage with this asset class. Citigroup is also considering issuing a stablecoin for payments. Dimon has previously criticized cryptocurrencies, labeling Bitcoin a "fraud" and a "scam," but has recently softened his stance, acknowledging clients' rights to buy Bitcoin and stating that JPMorgan will allow clients to purchase BTC without providing custody services.
