JPMorgan Chase is looking at offering loans backed by clients' cryptocurrency holdings, according to reports.
The plans – which would leverage bitcoin and ethereum investments – could take effect next year, the Financial Times and Reuters reported today (22 July).
Other US banking giants, including Bank of America and Citibank, are currently developing stablecoins as the move to crypto-friendly regulation in Washington gains traction.
Meanwhile global leaders have also been leaning into crypto currencies this week. Trump Media and Technology Group announced on 21 July it has accumulated approximately $2bn in bitcoin and related assets, totalling about two-thirds of its total liquid assets, while the UK government is said to be considering selling off £5bn worth of seized cryptocurrency to prop up public finance shortfalls, The Sunday Telegraph reported.
