NEW YORK–In a move related to loan collateral credit unions and their regulators may have to consider, JPMorgan Chase said it is exploring whether it will begin offering loans as early as 2026 that would be backed by customers’ cryptocurrency holdings.
The move comes as other major U.S. banks, including Bank of America and Citibank, are developing stablecoins amid a broader push for more crypto-friendly regulation in Washington, noted the Financial Times.
As the CU Daily recently reported, Jamie Dimon, the CEO of JPMorgan Chase has been a longtime bitcoin skeptic, but he recently said that the bank will be involved in stablecoins.
‘Not a Fan,’ But…
Earlier this year Dimon had said he is “not a fan” of cryptocurrencies, and he cited concerns that included leverage, misuse, and money laundering issues in the system.
He ruled out getting into custody, storing crypto assets for clients, or expanding significantly even if regulations ease.
“We’re going to allow you to buy it, we’re not going to custody it,” he said, the Financial Times reported.
