JPMorgan Accepts Crypto as Collateral for Dollar Loans
JPMorgan Chase has made a significant shift in its stance on cryptocurrency by accepting Bitcoin and Ethereum as collateral for U.S. dollar loans through its Kinexys digital assets platform.
The program, launched in March 2026, allows institutional clients to pledge crypto held with third-party custodians such as Fidelity Digital Assets and Coinbase Custody.
JPMorgan's CEO once dismissed Bitcoin as a 'hyped-up fraud,' but the bank now treats it similarly to stocks, bonds, and gold on its collateral schedule.
The haircuts range from 30% to 50% on Bitcoin, far above the 1% to 5% applied to Treasuries but well below the 70% levels initially modeled by banks.
The move has triggered a competitive cascade, with Goldman Sachs, Citigroup, and Bank of America building their own crypto infrastructure.