JPMorgan could be your next crypto lender

JPMorgan Chase is reportedly evaluating plans to offer loans backed by cryptocurrency holdings, signaling a measured shift in the banking giant’s approach to digital assets.

According to a report by the Financial Times, the bank may begin lending against cryptocurrencies such as Bitcoin and Ether by 2026.

The information, attributed to an unnamed source familiar with internal discussions, reflects a broader recalibration within JPMorgan, which has historically been cautious on crypto.

The report comes days after JPMorgan CEO Jamie Dimon said during the bank’s Q2 earnings call that the firm intends to be “involved” in stablecoins.

Dimon added that the bank wants to “understand it” and “be good at it,” referring to the asset class.

JPMorgan’s evolving stance follows growing momentum in the stablecoin space, with competitor Citigroup recently confirming it is considering issuing a stablecoin for payment use cases.

While JPMorgan has not confirmed any crypto-backed lending plans, such a move would mark a notable pivot.

In past years, Dimon had sharply criticized cryptocurrencies, calling Bitcoin a “fraud” in 2017 and later describing digital assets as “decentralized Ponzi schemes.”

More recently, however, he has taken a more measured tone, stating, “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.”

JPMorgan has allowed clients to gain exposure to Bitcoin but has stopped short of offering custody services for the asset.

Any future movement toward crypto-backed lending would likely align with regulatory developments and demand from institutional clients, particularly those with significant crypto holdings.

The bank has not issued an official statement on the reported lending plans, and timelines remain subject to change.

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