The bank giant JPMorgan (NYSE: JPM) is said to be prepared to accept the assets associated with the encrypted currency, including the money traded on the stock exchange (BTFS), as a loan guarantee.
The bank will initially provide funding against Crypto ETFS, starting from Trust ISHARES Bitcoin’s Blackrock, Bloomberg I mentioned On June 4.
This step represents a great expansion in JPMorgan offers related to encryption and comes at a broader regulatory time within the framework of the new American administration.
Previously, jpmorgan pre -such a guarantee on a limited basis separately. However, under the new plan, the investment funds circulating in encryption will be dealt with similar to traditional assets, such as stocks or real estate, when assessing the client’s ability to the customer.
The report also indicated that the initiative, which is expected to be launched in the coming weeks, is likely to include additional investment products for the encrypted currency.
Curvement in wealth management
Moreover, JPMorgan plans for the factors of cryptocurrencies in the net net value of customers and management of wealth. This can significantly increase borrowing strength for customers who suffer from great exposure to encryption through organized investment vehicles.
It is worth noting that this is not the first time that the Blockchain technology is consumed. The Blockchain section of JPMorgan, which has been renamed as Kinexys, focuses on providing developed solutions.
Interestingly, this strategic axis comes despite the bank’s CEO, Jimmy Damon, who remained one of the most critical critics. While Damon has publicly rejected Bitcoin as “fraud” and “not a real thing” without any fundamental value, he admitted that he was open to the support of customers who wish to invest in the original.
“I don’t think we should smoke, but I defend your right to smoking,” Damon said.
Meanwhile, Bitcoin has not yet made a big step on the news, with the original remaining largely in monotheism. As of the time of the press, BTC has been traded at $ 105,252, a decrease of 0.7 % in the past 24 hours.
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