JPMorgan reported that the BlackRock ISHARES BITCOIN TRUST (IBIT) will initially be accepted as a credit collateral. At the same time, the bank will take into account crypto assets when evaluating pure capital and liquidity of customers, equating them to traditional assets, such as companies and real estate, since technically cryptocurrency ETF tools are shares, and their use does not contradict the rules for compliance with the Baselsky Banking Surveillance Committee (BCBS).
Jamie Dimon, General Director of JPMorgan Chase, added that earlier the bank received crypto -etf as a security deposit only individually. However, the new JPMorgan policy regarding the adoption of crypto assets standardizes and spreads this opportunity for a wider circle of customers. The program starts in the coming weeks and covers both the retail and institutional customers of the bank around the world.
The head of JPMorgan said that the Bank’s board went to meet the needs of his customers, since the blockchain and smart contract technologies have practical commercial value, and this component of crypto assets is a useful component of the digital industry.
At the same time, Diamond emphasized that his personal opinion diverges from the JPMorgan reign policy, and he still believes that in the wake of the “bull” trend, customers of the bank can lose sight of signals that indicate “inflating the cryptocurrency bubble”.
Source: Bits
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