JPMorgan mulls crypto-backed loans amid regulatory shift

JPMorgan Chase is considering offering loans backed by cryptocurrency holdings such as bitcoin and ethereum as early as 2026, the Financial Times reported on Tuesday, citing sources familiar with the matter, according to Reuters.

The move would mark a significant step for the largest US bank, especially as rivals like Bank of America and Citibank are pushing ahead with stablecoin development amid calls for more crypto-friendly regulation in Washington.

Despite the bank’s growing interest, CEO Jamie Dimon remains a vocal critic of bitcoin. In May, he told investors he is “not a fan” of the cryptocurrency space, raising concerns over leverage, misuse, and money laundering.

He ruled out expanding into crypto custody, saying, “We’re going to allow you to buy it; we’re not going to custody it.”

JPMorgan declined to comment to the FT and has not responded to Reuters’ request for comment.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama