Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
JPM Reportedly Plans to Allow Bitcoin/ Ether as Loan Collateral by Yr-end
Recommend 3 Positive 5 Negative 1 |
||||
|
||||
|
JPMorgan plans to allow institutional clients to use Bitcoin and Ether as loan collateral by the end of the year, with third-party custodians entrusted to safeguard the pledged cryptocurrencies, Bloomberg quoted sources as saying. JPMorgan has not commented on this. The broker had previously allowed the use of crypto-linked ETFs as collateral. This move demonstrates the rapid integration of cryptocurrencies into the core operational mechanisms of the financial system, which is symbolically significant for JPMorgan, the report added. JPMorgan's Chairman and CEO, Jamie Dimon, once criticized cryptocurrencies as "hyped-up fraud" and "pet rock." Recently, his stance softened somewhat. However, he remained cautious, and said that "I don't think that people should smoke, but I defend people's right to smoke. Similarly, I defend your right to buy Bitcoin." AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
