JPMorgan to Offer Crypto-Backed Loans for Clients

Investment bank JPMorgan Chase is reportedly set to allow clients to borrow against their holdings of Bitcoin and Ether (ETH), signaling Wall Street’s ongoing embrace of digital assets. According to Bloomberg, the new initiative will enable global clients to use these cryptocurrencies as collateral for loans. This move comes after months of speculation regarding the possibility of JPMorgan accepting Bitcoin and Ethereum-backed ETFs as collateral.