Thomas Daniels
JPMorgan Chase is reportedly evaluating the launch of crypto‑backed loans, marking a notable recalibration in its stance on digital assets. According to a Financial Times source, the bank is contemplating lending against assets such as Bitcoin ($119,015) and Ether ($3,696), potentially by 2026—though plans remain provisional.
This development aligns with JPMorgan’s recent strategic pivot toward stablecoins. On a July 15 earnings call, CEO Jamie Dimon confirmed the bank’s intention to participate in the stablecoin market, asserting the need to “understand it” and “be good at it.” This positions JPMorgan alongside peers like Citigroup, which, under CEO Jane Fraser, recently announced stablecoin issuance plans for payment systems.
Dimon’s evolving tone is noteworthy. In the past, he criticized Bitcoin as a “fraud” (2017), a “scam” (2018), and later dismissed digital assets as “decentralized Ponzi schemes” in 2022, while still endorsing blockchain and DeFi applications. However, the FT noted Dimon’s earlier rhetoric may have alienated crypto‑native clients . Most recently, he adopted a more conciliatory stance, stating, “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” and affirming that JPMorgan would permit client Bitcoin purchases—albeit without custody .
