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JPMorgan Chase & Co (NYSE:JPM), the largest bank in the United States, is preparing to allow its trading and wealth management clients to use certain cryptocurrency-related assets as collateral for loans, Bloomberg News reported on Wednesday. This significant initiative aligns with the bank's efforts to expand in a sector that has received support from President Donald Trump.
In the coming weeks, the bank will begin to offer financing secured by cryptocurrency exchange-traded funds (ETFs), starting with BlackRock Inc.'s iShares Bitcoin Trust, according to sources close to the matter. This move signals a continued push into the crypto sector by major American banks, following efforts by the Trump administration to reduce regulatory restrictions.
The bank will also start to consider its wealth management clients' crypto holdings when determining their overall net worth and liquidity. This approach suggests that cryptocurrencies will receive treatment comparable to other assets such as stocks, cars, or art in calculating a client's borrowing capacity against assets.
In the coming weeks, the bank will begin to offer financing secured by cryptocurrency exchange-traded funds (ETFs), starting with BlackRock Inc.'s iShares Bitcoin Trust, according to sources close to the matter. This move signals a continued push into the crypto sector by major American banks, following efforts by the Trump administration to reduce regulatory restrictions.
The bank will also start to consider its wealth management clients' crypto holdings when determining their overall net worth and liquidity. This approach suggests that cryptocurrencies will receive treatment comparable to other assets such as stocks, cars, or art in calculating a client's borrowing capacity against assets.
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