According to a Bloomberg report on June 4, the largest U.S. bank, JP Morgan Chase, is set to launch a service within weeks that will allow trading and asset management clients to use cryptocurrency-related assets as collateral for loans.
With a full-scale entry into the cryptocurrency industry through its partnership, it first starts with ETF collateral loans targeting BlackRock's iShares Bitcoin Trust (IBIT). As the Trump administration advances the removal of regulatory barriers, major banks are accelerating the expansion of their cryptocurrency services.
Additionally, the company clarified its policy to include cryptocurrency holdings of asset management clients in the evaluation of net assets and liquid assets. Cryptocurrencies will be treated similarly to stocks, cars, and artworks, becoming the basis for calculating clients' borrowing limits. The previously individualized cryptocurrency ETF collateral loans will be standardized and applied to all customer segments worldwide.
JPMorgan CEO Jamie Dimon has shown a skeptical attitude towards cryptocurrencies for many years, but at the investor presentation in May, he stated, "I am not a fan of Bitcoin, but I will defend the right of my clients to buy it."
The expansion of cryptocurrency services by major banks has become a trend across the industry. Morgan Stanley is also considering adding cryptocurrency trading features to the E*Trade platform, driven by improvements in the regulatory environment and rising customer demand.
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JP Morgan enters the virtual currency ETF collateral lending market due to regulatory easing under the Trump administration.
According to a Bloomberg report on June 4, the largest U.S. bank, JP Morgan Chase, is set to launch a service within weeks that will allow trading and asset management clients to use cryptocurrency-related assets as collateral for loans.
With a full-scale entry into the cryptocurrency industry through its partnership, it first starts with ETF collateral loans targeting BlackRock's iShares Bitcoin Trust (IBIT). As the Trump administration advances the removal of regulatory barriers, major banks are accelerating the expansion of their cryptocurrency services.
Additionally, the company clarified its policy to include cryptocurrency holdings of asset management clients in the evaluation of net assets and liquid assets. Cryptocurrencies will be treated similarly to stocks, cars, and artworks, becoming the basis for calculating clients' borrowing limits. The previously individualized cryptocurrency ETF collateral loans will be standardized and applied to all customer segments worldwide.
JPMorgan CEO Jamie Dimon has shown a skeptical attitude towards cryptocurrencies for many years, but at the investor presentation in May, he stated, "I am not a fan of Bitcoin, but I will defend the right of my clients to buy it."
The expansion of cryptocurrency services by major banks has become a trend across the industry. Morgan Stanley is also considering adding cryptocurrency trading features to the E*Trade platform, driven by improvements in the regulatory environment and rising customer demand.
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