JPMorgan is looking at a major expansion into cryptocurrency lending and is considering offering loans directly protected by clients’ cryptocurrency assets.
Due to a bullish crypto-regulated environment under the Trump administration, JPMorgan could soon launch these crypto-devices loans next year, the report said it cites people familiar with the issue.
Traditionally prudent JPMorgan has already allowed clients to borrow against crypto exchange sales funds (ETFs), such as BlackRock’s iShares Bitcoin Trust (IBIT).
This next stage will deepen our commitment to digital assets and mark a shift under CEO Jamie Dimon’s leadership.
Last week, Jamie Dimon said the bank is planning to become more involved with Stubcoin, despite questioning its practical utility compared to traditional payments.
Coindesk was unable to contact JPMorgan.
Read more: Jamie Dimon tells JPMorgan to get more involved with Stablecoins