Bitcoin, once compared to a "pet rock" by Jamie Dimon, is now planned to be included as collateral for loans by JPMorgan Chase
According to reports, JPMorgan Chase plans to allow institutional clients to use their holdings of Bitcoin and Ethereum as collateral for loans by the end of the year, marking a deep integration of cryptocurrencies into Wall Street. This global initiative will rely on third-party custodians to hold the collateral tokens. Previously, JPMorgan Chase had accepted cryptocurrency-related ETFs as collateral, and this move further expands on that foundation. A spokesperson for JPMorgan Chase declined to comment
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