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2w ago

JPMorgan Chase Partners With Coinbase for Credit Card Crypto Purchases

Building on its Base network stablecoin pilot alongside new U.S. legislation, JPMorgan aims to onboard 80 million consumers through credit card crypto purchases this fall, with loyalty-point redemptions followed by bank-account integrations next year.

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People watch as the logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton
From 'ponzi' to partnership: JPMorgan goes all-in on crypto with Coinbase deal
Jpmorgan teams with coinbase to let users buy crypto with bank accounts, points and cards

Overview

  • Starting in fall 2025, Chase credit card holders will be able to fund their Coinbase wallets and purchase cryptocurrencies directly.
  • Beginning in 2026, customers can redeem Chase Ultimate Rewards points for USDC at a rate of 100 points to $1.
  • Direct bank-account linking to Coinbase wallets will launch in 2026 to streamline fiat-to-crypto transfers.
  • The collaboration follows JPMorgan’s pilot of its JPMD deposit token on Coinbase’s Base network for institutional clients.
  • The deal underscores a growing shift as major banks move deeper into crypto amid a market valuation of around $4 trillion.