JP Morgan studies accepting crypto as collateral for loans
Jamie Dimon once said he would summarily fire any JP Morgan trader caught trading Bitcoins. The dismissal would be for two reasons: "it goes against our rules" and that person "is stupid."
Dimon acknowledged the potential of blockchain infrastructure, but always poured skepticism on the future of cryptocurrencies – for him, a "fraud" that would end up "worse than the tulip bubble." Less than a year later, Dimon's mind changed.
JP Morgan is now evaluating the possibility of granting loans backed by the crypto assets of its clients.
According to the Financial Times, the bank is expected to provide financing using assets such as Bitcoin and Ether as collateral.
Source: Istoédinheiro