JP Morgan mulls cryptocurrency transaction among clients

JP Morgan mulls cryptocurrency transaction among clients

US bank JP Morgan Chase could be the first lender in America which could allow crypto transaction among its clients. This as the bank is mulling to issue debt linked to cryptocurrency-focused companies.

JP Morgan Cryptocurrency Exposure Basket, the incoming debt instrument, is thinking about MicroStrategy (20 percent) Square (18 percent), Riot Blockchain (15 percent) and chipmaker NVIDIA (15 percent) with positions in a total of 11 companies. It, however, does not invest directly in cryptos, according to its prospectus.

The basket companies “operate businesses that we believe to be, directly or indirectly, related to cryptocurrencies or other digital assets, including as a…

Read More from www.cnbctv18.com

The best source of news - newszf.com
Logo
Compare items
  • Total (0)
Compare
0