Report: JPMorgan Chase Considering Bitcoin Futures Contracts

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Despite JPMorgan Chase CEO Jamie Dimon’s harsh criticism of digital currency, the bank is reportedly looking at options that could provide its clients with access to CME Group’s proposed Bitcoin futures contracts. According to an unnamed source, the firm is currently taking stock of client demand and evaluating possible risks that might arise if the bank were to help its clients make those trades.

The Wall Street Journal first reported the story:

“J.P. Morgan is considering whether to provide its clients access to CME’s new bitcoin product through its futures-brokerage unit. That means the bank’s customers could use it to place bets on whether the digital currency will rise or fall, while J.P. Morgan collects fees for such services.”

The move would not be entirely out of character for JPMorgan, given that the bank already helps clients with Bitcoin XBT trades on the exchanges. The firm’s finance chief has also recently suggested that Dimon’s view may not be shared by everyone at JPMorgan Chase. In October, she said that her company was keeping an open mind about the potential benefits that properly-regulated digital currencies might offer.

 

The views expressed by the authors on this site do not necessarily represent the views of DCEBrief or the management team.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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