JPMorgan Chase is exploring lending against clients’ cryptocurrencies: People familiar with the matter

According to the Financial Times, Foresight News reports that sources reveal JPMorgan Chase is exploring the possibility of issuing loans using customers' crypto assets as collateral, which is another sign that one of the largest banks in the United States is pushing crypto assets into the mainstream financial system. If this policy is ultimately implemented, it would mark a significant shift in the stance of JPMorgan Chase CEO Jamie Dimon. Jamie Dimon previously called Bitcoin a "fraud" 8 years ago, claiming it would "ultimately collapse" and was only useful for drug dealers and criminals. JPMorgan Chase may start accepting Bitcoin and Ethereum as direct loan collateral as early as next year, though the plan may still change.