JP Morgan is working on a crypto-secured loan system

According to information still confidential but relayed by the Financial Times, the US bank JP Morgan is currently working on a new project involving cryptoactives. This time, his work would focus on the use of cryptoactives in a particular context, that of credits. Cryptoactives would then have a new collateral role for loans.

FACTS

• JPMorgan is currently exploring the possibility of offering loans secured by cryptocurrency, including Bitcoin and Ethereum.

• JP Morgan's customers could then use their cryptocurrency assets to obtain bank loans.

• This new service could be launched as early as next year according to sources that have revealed this information as not yet official.

• JP Morgan could also begin to take account of its clients' cryptocurrency assets in order to better assess their financial situation, particularly in the context of asset management.

ISSUES

• Staying at the forefront : Launched in the battle of theArtificial Intelligence In 2023, the US bank JP Morgan had already been the first bank to integrate the metavers in 2022. The same year, JP Morgan specified also want to launch its own crypto wallet.

• Enjoying a favourable climate : In the current US regulatory environment that is particularly favourable to cryptocurrency, JP Morgan is now seeking to demonstrate its new advances in a promising market.

• Marking the Evolution of His Vision : Initially, JP Morgan Bank and its CEO Jamie Dimon were particularly critical of cryptocurrency. However, in recent years, JP Morgan has indeed taken a much more open and proactive position on cryptoactives.

• Renew loan guarantees : In 2011, JP Morgan was already on track to renew the security deposit. At the time, the American business bank announced that it would Would accept now as a security deposit for all transactions requiring the pledge of an asset such as a loan.

PERSPECTIVE

• Prompted by the trend towards democratisation, cryptoactives have seen their uses increase exponentially and diversifiedly in recent months. Today, JP Morgan's work illustrates another potential model.

• However, this use had already been envisaged and developed by other actors in the past. The Belgian FinTech Credix organized financing of loans through stables. The cryptocurrency exchange platform also announced early in the year the launch of bitcoin-based USDC loans.

• However, JP Morgan is now among the players of the traditional bank to take guarantees of loans in cryptoactives, after Santander for example, which worked already on secured cryptoactive loans for farmers in 2022.

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