JPMorgan will allow its institutional clients to use Bitcoin (BTC) and Ethereum (ETH) as collateral in the cryptocurrency space, Bloomberg reported.
This move by JPMorgan represents a significant step in integrating cryptocurrencies into traditional financial systems.
JPMorgan Takes Huge Step into Bitcoin and Ethereum!
JPMorgan Chase & Co. plans to allow its institutional clients to use Bitcoin and Ethereum holdings as loan collateral by the end of 2025, significantly deepening Wall Street's crypto integration.
The globally rolled out program will rely on a third-party custodian to safeguard the collateralized tokens, according to sources familiar with the matter.
This program builds on JPMorgan's previous move to accept crypto-linked ETFs as collateral.
*This is not investment advice.
