JPMorgan Chase considers Bitcoin and Ethereum-backed loans, aiming for launch next year

JPMorgan Chase is reportedly considering launching loan products backed by virtual assets (cryptocurrencies) such as Bitcoin (BTC) and Ethereum (ETH). The launch could be as early as next year.

On the 21st (local time), the Financial Times (FT), citing multiple sources familiar with the matter, reported this development. JPMorgan is reportedly developing a new product that provides cash loans secured by customers' virtual assets and is currently evaluating the feasibility and structure of the launch internally.

This decision comes as major U.S. banks, including BoA and Citibank, are showing interest in issuing stablecoins. With the Trump Administration moving toward introducing crypto-friendly regulations, traditional financial institutions are accelerating their response.

Jamie Dimon, the CEO of JPMorgan, who has continuously expressed skepticism toward Bitcoin, recently stated, "We will be involved with stablecoins," reflecting a more flexible stance. At the shareholders' meeting last May, CEO Dimon said, "I don't like the Bitcoin ecosystem," expressing concerns over excessive leverage, illegal use, and money laundering risks. Nevertheless, he added, "If customers want to buy Bitcoin, we will allow it, but we will not custody it."