JPMorgan Chase is reportedly exploring plans to offer loans backed by clients’ cryptocurrency holdings.

The initiative could launch as early as next year and may involve cryptocurrencies such as bitcoin and ethereum.

This move comes as major US banks like Bank of America and Citibank develop stablecoin projects amid ongoing regulatory discussions.

JPMorgan CEO Jamie Dimon, who has been critical of bitcoin, said the bank is open to stablecoins but remains cautious about the broader crypto market.

JPMorgan declined to comment on the report.

Dimon has previously ruled out offering cryptocurrency custody services, citing risks such as leverage and money laundering.

Recent JPMorgan developments