JPMorgan Chase Can Give Its Customers Access to Trading CME Group's Bitcoin Futures
November 22, 2017
Despite the fact that head of JPMorgan Chase is one of the main critics of Bitcoin, the financial holding company can make a serious step towards the adoption of the cryptocurrency. It is reported that the bank can give its customers access to trading Bitcoin futures of the CME Group's exchange.
"JPMorgan is considering the opportunity to give its customers access to the new Bitcoin product by CME via its own futures trading platform," a source familiar with the situation told the Wall Street Journal.
It will be recalled that last month the largest exchange of financial derivatives CME Group announced its plans to begin trading Bitcoin futures in December. The idea of the exchange was picked up by the hedge fund Man Group and the Swiss bank Vontobel, moreover, the trading platform LedgerX has already launched long-term Bitcoin options.
Rumors that JPMorgan Chase can give its customers access to Bitcoin products seem surprising, given the critisism against the cryptocurrency expressed by head of the bank, Jamie Dimon. For example, he called Bitcoin a 'fraud' and those who have invested their money in Bitcoin 'fools who will pay for it'. In addition, he promised that he would fire any employee of his bank, who would invest in Bitcoin. So far, no information about the layoffs in JPMorgan Chase has been reported.
Despite this all, Dimon supports the blockchain technology underlying Bitcoin, and the bank has finished testing it successfully.