JPMorgan Chase & Co. (JPM) Exploring Issuing Cryptocurrency-Backed Loans

JPMorgan Chase & Co. (NYSE:JPM) is one of the best 52-week high stocks to buy now. On July 22, it emerged that the company is exploring the possibility of offering loans backed by clients’ cryptocurrency holdings. The company could offer loans backed by Bitcoin and Ethereum as early as next year.

JPMorgan’s offering of loans backed by cryptocurrencies comes as other US banks increasingly work on stablecoins. Major US banks are working to capitalize on the more crypto-friendly regulations in Washington, particularly with the push for stablecoins.

CEO Jamie Dimon, a longtime Bitcoin skeptic, has already confirmed that JPMorgan will also be involved in stablecoins. In May, he took a swipe at Bitcoin, citing concerns about leverage, misuse, and money laundering issues in its system.

JPMorgan Chase & Co. (NYSE:JPM) is a global financial services firm that provides investment banking, as well as financial services for consumers and small businesses. It also offers commercial banking, financial transaction processing, and asset management services.

While we acknowledge the potential of JPM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best Biotech Stocks to Buy According to Billionaire Steve Cohen and 11 Growth Stocks That Could Double by 2027.

Disclosure: None. This article is originally published at Insider Monkey.