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JPMorgan Chase Explores Using Clients' Cryptocurrency as Collateral for Loans
Summary: According to Jinshi News, JPMorgan Chase is exploring the possibility of using clients' cryptocurrency assets as collateral for loans, marking another sign of one of the largest banks in the United States pushing for crypto assets to enter the mainstream financial system. If this policy is implemented, it would signify a significant shift in JPMorgan ...
According to Jinshi News, JPMorgan Chase is exploring the possibility of using clients' cryptocurrency assets as collateral for loans, marking another sign of one of the largest banks in the United States pushing for crypto assets to enter the mainstream financial system. If this policy is implemented, it would signify a significant shift in JPMorgan Chase CEO Jamie Dimon's stance. Eight years ago, Dimon called Bitcoin a fraud, claiming it would eventually collapse and only be useful for drug dealers and murderers. Sources revealed that JPMorgan Chase may start accepting cryptocurrencies such as Bitcoin and Ethereum as collateral for direct loans as early as next year, but plans are subject to change. JPMorgan Chase declined to comment on this.
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