JPMorgan Eyes Crypto-Backed Loans Amid Growing Stablecoin Interest

JPMorgan’s Next Move in Crypto Lending

JPMorgan Chase is reportedly considering launching crypto-backed loans, potentially becoming one of the first major U.S. banks to lend against assets like Bitcoin (BTC) and Ether (ETH). According to a report by The Financial Times (FT), the banking giant could roll out these services by 2026, although the timeline remains fluid.

This development comes as traditional financial institutions continue to integrate digital assets into their operations, aiming to keep pace with client demand and evolving regulatory landscapes.

Stablecoins on JPMorgan’s Radar

The news of crypto-backed loans follows JPMorgan’s increasing interest in stablecoins. During a July 15 earnings call, CEO Jamie Dimon revealed the bank’s intention to participate in the stablecoin sector:

“We plan to be involved in stablecoins to understand them and be good at it,” Dimon stated.

This push comes amid mounting competition from other financial heavyweights, including Citigroup, whose CEO Jane Fraser recently confirmed the bank is considering launching its own stablecoin for payments.

Related: JPMorgan Initiates Circle (CRCL) Coverage with Underweight Rating, $80 Price Target by 2026

Jamie Dimon’s Evolving View on Bitcoin

Dimon’s latest stance marks a notable shift from his earlier skepticism of cryptocurrencies. Over the years, the JPMorgan CEO has been outspoken in his criticism:

• In 2017, he called Bitcoin a “fraud” and warned employees against trading it.

• By 2018, he dismissed cryptocurrencies as a “scam.”

• In 2022, he labeled digital assets as “decentralized Ponzi schemes” — while still recognizing the value of blockchain, smart contracts, and tokenization.

Source: https://x.com/Ashcryptoreal/status/1947563545643872408

According to the FT, Dimon’s anti-Bitcoin rhetoric reportedly alienated some high-net-worth clients who had built their fortunes in the crypto market.

“I Defend Your Right to Buy Bitcoin”

In recent years, Dimon has softened his tone, drawing a comparison between Bitcoin and personal freedoms:

“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” Dimon said on May 19.

While JPMorgan does not plan to custody crypto assets, it will allow clients to purchase Bitcoin through approved channels.

What This Means for Crypto and Wall Street

If JPMorgan proceeds with crypto-backed loans, it could accelerate institutional adoption and lend credibility to Bitcoin and Ethereum as collateral assets. The bank’s growing interest in stablecoins also suggests a strategic pivot toward embracing digital finance, especially as global competition intensifies.

Conclusion

JPMorgan’s exploration of crypto-backed loans and stablecoins marks a transformative moment for traditional banking. As Jamie Dimon’s stance on digital assets evolves, the world’s largest banks are positioning themselves to meet the growing demand for crypto services. Whether this move comes by 2026 or earlier, it signals that Wall Street can no longer ignore the crypto revolution.

Related: Bitcoin Price Poised for Consolidation, But a July ATH Still Possible