JPMorgan accepts Bitcoin and Ethereum as collateral

JPMorgan Chase plans to accept Bitcoin (BTC) and Ethereum (ETH) as collateral for loans by the end of the year. The program is aimed at institutional clients worldwide and uses a third-party custodian to secure the deposited tokens.
The move marks a historic shift for the largest US bank, whose CEO Jamie Dimon derided Bitcoin as a “fraud” just a few years ago. Now, the cryptocurrency joins the same category as stocks, bonds, and gold: as a collateralizable asset.
The new initiative builds on JPMorgan's previous decision to accept crypto ETFs as collateral for loans, bringing the bank closer to integrating digital assets into the heart of the global financial system.
Regulatory easing under the Trump administration has paved the way for Wall Street. Competitors like Morgan Stanley, Fidelity, State Street, and BNY Mellon are also expanding their crypto offerings, from custody to tokenization to direct access for clients.
JPMorgan is one of the most active major banks in the blockchain space. With its proprietary platform, Onyx, the bank has been operating one of the most advanced blockchain networks in the financial sector since 2020. Through Onyx, the bank processes billions of tokenized transactions daily with over 800 financial institutions. The bank also operates JPM Coin, its own stablecoin solution.

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