‘Pet Rock’ No More: JPMorgan To Accept Bitcoin, Ethereum As Collateral

JPMorgan Chase & Co. (NYSE:JPM) will allow institutional clients to use Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) as collateral for loans, marking a major shift in how Wall Street’s largest bank integrates digital assets into its core lending operations, according to Bloomberg.

JPMorgan Expands Crypto Collateral Program

The program, set to launch by year-end, will let clients pledge Bitcoin and Ethereum for secured loans. 

A third-party custodian will safeguard the pledged tokens to ensure risk compliance.

The move expands JPMorgan’s earlier initiative that accepted crypto-linked ETFs as loan collateral. 

It …

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