💼 JPMorgan Chase Eyes Crypto-Collateralized Loans
Reports suggest JPMorgan Chase is considering letting customers borrow cash using Bitcoin and Ethereum as collateral — a major pivot for the banking giant.
CEO Jamie Dimon, once a fierce critic who called Bitcoin a “pet rock,” softened his stance in 2024, stating people should have the right to invest in it — even if he wouldn’t personally recommend it.
Key details:
• Likely partnership with a third-party custodian to manage crypto assets in case of defaults.
• Move comes as institutional demand for crypto grows and integrated financial products gain traction.
• Meanwhile, JPMorgan is cracking down on fintechs like PayPal, Venmo, and Coinbase, now charging them for access to customer banking data that was once free.
This could mark the beginning of a new era for crypto in traditional banking.
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