This could make Bitcoin and Ether more attractive to institutional investors seeking to maximize the utility of their assets.
Investment banking giant JPMorgan Chase is reportedly planning to let clients use Bitcoin and Ether as collateral for loans, signaling Wall Street’s continued move toward embracing digital assets.
The initiative would allow JPMorgan’s global clients to borrow against their Bitcoin (BTC) and Ether (ETH) holdings, according to a Bloomberg report published Friday, citing people familiar with the matter.
The offering would store clients’ Bitcoin and Ether holdings through a third-party custodian, according to people who spoke to the news outlet.