As is well known, JPMorgan Chase CEO Jamie Dimon has always held a harsh criticism of cryptocurrencies, but recent news has emerged that this Wall Street giant is evaluating the launch of 'cryptocurrency collateral loan' services.
According to a report by the UK (Financial Times) on Tuesday, sources say JPMorgan Chase may allow customers to use Bitcoin and Ethereum as collateral to obtain cash loans as early as next year.
It is reported that the relevant details are still in the internal deliberation stage and have not been finalized. However, the report mentioned that JPMorgan Chase has recently begun related preparations, including considering accepting cryptocurrency ETFs as collateral to provide loans to customers.
Interestingly, CEO Jamie Dimon, who has led JPMorgan Chase for 19 years and is known for his criticism of Bitcoin, has publicly blasted Bitcoin as having 'no intrinsic value' and being 'suitable only for fraud and money laundering,' but in the face of customer demand, his attitude has finally softened.
In May of this year, Dimon first admitted that JPMorgan Chase would allow customers to directly purchase Bitcoin in the future, although the bank still has no intention of entering the custody service, this marks a significant shift in attitude. The market interprets this as the trend and demand for asset management have forced financial giants to adapt.
"(Financial Times): JPMorgan Chase considers launching 'cryptocurrency collateral loans'" This article was first published on (Blockcast).
