World’s Largest Bank JPMorgan Plans Crypto Trading for Institutional Clients

World’s largest bank JPMorgan Chase reportedly plans launching crypto trading services for institutional clients.

American multinational banking institution JP Morgan Chase &Co. is the largest bank in the United State and considered as largest bank in the world, is now offering cryptocurrency trading to its institutional clients according to Bloomberg News reports on December 22. According to the report, the largest US bank is considering what crypto products and services the markets company may offer to the customers extending its presence in cryptocurrencies, which could include spot and derivatives trading.

JPMorgan has just entered the blockchain area. Earlier this month, the bank set up a short-term bond for Galaxy Digital using the Solana blockchain. According to CoinGecko data, the worldwide cryptocurrency market is presently worth over $3.1 trillion, with bitcoin accounting for approximately $1.8 trillion of that total.

The crypto sector thinks that the action is part of Operation Chokepoint 2.0, a concerted attempt by federal authorities and banks to deny services to cryptocurrency firms. However, JPMorgan CEO Jamie Dimon denied the allegations of debanking and stated that clients' political or industrial associations had no bearing on account closures.

Dimon has been quite uncertain of Bitcoin, and the company is apparently considering opening crypto trading for institutional clients. However, retail consumers are not currently a priority for the bank. Last month, it introduced JPM Coin (JPMD), a blockchain-powered deposit token for institutional clients. As previously reported, the bank is planning taking place Bitcoin exchange-traded funds (ETFs) as collateral for loans. JPMorgan Chase is gradually realizing that that blockchain technology and digital assets are the future, though it has not experienced cryptocurrency like other Wall Street titans such as BlackRock (NYSE: BLK) and Fidelity Investments.

This potential move of move JP Morgan would be another key step in the increasing institutional use of digital assets under US President Donald Trump, who has promised to make America the "crypto capital of the world."