JPMorgan and Coinbase team up to enable crypto purchases via credit card
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The news: JPMorgan Chase has partnered with Coinbase to allow customers to fund their wallets using Chase credit cards and buy cryptocurrency on the exchange starting in the northern hemisphere fall this year.
From 2026, Chase customers will also be able to redeem Chase Ultimate Rewards points for USDC and directly link their bank accounts to Coinbase to fund crypto purchases, according to a Coinbase statement
The context: Once viewed warily by traditional financial institutions, the digital assets industry has matured enough to draw in major banks. JPMorgan’s move follows similar steps by other financial heavyweights, including PNC, which earlier this month said it was working with Coinbase to offer crypto trading.
The partnership also reflects rising demand and broader adoption of crypto, driven in part by a more defined and permissive regulatory environment in key markets like the US.
The numbers: The partnership will offer three new ways for Chase’s over 80 million customers to participate in the USD4 trillion cryptocurrency market via Coinbase, according to the statement.
Shares in Coinbase rose 3% following the announcement. JPMorgan shares were less than 1% higher.
The sources: Coinbase statement, Reuters
