JPMorgan Chase Embarks on Bitcoin-Backed Loan Initiative, Signaling a Major Policy Transformation

3 week ago / Read about 0 minute

Author：小编

Industry insiders reveal that JPMorgan Chase is exploring the launch of a loan service secured by customers' cryptocurrency holdings, with a potential rollout as early as next year. This innovative plan encompasses digital assets such as Bitcoin and Ethereum as collateral, broadening the bank's scope to include cryptocurrency exchange-traded funds (ETF) shares as security. This development signifies a notable shift in the stance of JPMorgan Chase CEO Jamie Dimon, who once denounced Bitcoin as a "fraud" in 2017 but has since softened his stance, publicly supporting customers' cryptocurrency purchases in May of this year. At present, the initiative remains in its nascent stages.

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