Loans backed by cryptocurrencies are in JPMorgan’s plans: report

By Hannah Pérez

JPMorgan, Titan of Wall Street and one of the most influential banks in the world, explores to allow their clients to use their Bitcoin holdings as a guarantee for loans. The favorable regulatory environment promotes it towards Crypto.

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• One of the most influential banks in the world moves towards cryptocurrencies.
• JPMorgan explores allowing their customers to use crypt as a guarantee for loans.
• The bank has already begun to allow ETF Bitcoin as a support for financing.
• Regulatory clarity in the US possibly motivates it to pursue the new strategy.

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JPMorganthe largest bank in the United States and one of the largest in the world, is weighing to offer its customers guaranteed cryptocurrencies.

According to a report from Financial Timeswhich cites people familiar with the plans, the bank is exploring the possibility of allowing its clients to handle cryptocurrencies ask for loans against their assets as Bitcoin and Ether. The new offer could come as soon as next year, according to the report, which was collected by several media.

In the cautious past with cryptocurrencies, JPMorgan This kind of assets has begun to be considered more and more for the growing demand for investors and in the midst of a clearer regulatory environment under the administration of Donald Trump.

Last month, Bloomberg He informed that the bank giant planned to offer its customers to use their actions in funds quoted in the Bag (ETF) of cryptocurrencies as a guarantee for loans – starting with the ETF Bitcoin in cash of BlackrockIbit.

At that time, it was indicated that only negotiation and wealth administration customers could access the offer. JPMorgan It was also beginning to consider the physical holdings of Bitcoin and other cryptocurrencies of high profile clients when evaluating their general assets and liquid assets when they request loans or other types of financing, according to the report.

By allowing cryptocurrencies, they are used as collateral to obtain credits, JPMorgan seeks to provide new opportunities and financial flexibility to users of Bitcoin and other digital currencies, as well as for those who are exposed to them through regulated vehicles.

Regulatory clarity motivates JPMorgan

The CEO of JPMorganJamie Dimon, who for a long time has been a staunch skeptical of cryptocurrencies, revealed last week’s intentions to get involved with the stablecoins, even when he questioned his practical utility.

“We are going to get involved in both the JPMorgan deposit currency and in the stablcoins to understand it“Dimon said in a call, according to Citó Bloomberg. “I think they are real, but I don’t know why you would want Stablecoin instead of only one payment“He added, questioning his appeal compared to traditional payments.

Already in May, Dimon had recognized that the bank would work to allow customers to buy Bitcoinsalthough I would not keep them in custody. The Executive has assured in the past that Bitcoin It has no value, and has even referred to it as a Ponzi scheme.

The efforts of the bank giant reflect the recognition of Wall Street of a class of assets that can no longer ignore, and occur after, on Friday, President Trump signed the genius law, which regulates the Stablecoinsmaking it the first important legislation of cryptocurrencies in the country.

The Genius bill would establish a federal regulatory framework for Stablecoinsdemanding that they are totally backed by US dollars or other highly liquid assets. It would also require annual audits for the issuing with a market capitalization greater than USD $ 50 billion and establish rules for the issuance by foreign entities.

Other high -profile financial institutions, including Citigroup, Bank of America and Western Unionhave also recently advanced plans to include Stablecoins or emit yours.

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Hannah Estefanía Pérez / Diariobitcoin

Image generated with AI tool, under free use license

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