JPMorganChase and Coinbase have partnered on cryptocurrency offerings as American banks evaluate their digital asset strategies.
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The bank announced the partnership on Wednesday, highlighting upcoming features it is building for mutual customers of the two companies.
"This partnership marks a significant step forward in empowering our customers to take control of their financial futures," said Melissa Feldsher, head of payments and lending innovation for JPMorganChase.
Through JPMorgan's API, Chase customers will be able to directly link their bank accounts to their Coinbase wallets. The bank claims that the direct API connection will provide the same security measures used by Chase bank customers to their crypto transactions conducted through Coinbase.
JPMorganChase customers will also have the option to transfer their Ultimate Rewards points to their Coinbase account at a one-to-one redemption ratio. This marks the first time a major credit card rewards program will be used to fund a crypto wallet, according to the bank.
The company is expecting the direct bank-to-wallet and Ultimate Rewards features to go live in 2026, according to a statement.
Starting in fall 2025, Chase customers will have the option to fund their Coinbase accounts directly using Chase credit cards. Currently, Coinbase supports connecting debit cards and Paypal accounts, but not credit cards, in North America.
"We're excited to partner with JPMorganChase to onboard the next generation of consumers into crypto," said Max Branzburg, head of consumer and business products at Coinbase. "Together, we are expanding choice and lowering barriers to entry for consumers to participate in the future of financial services on-chain."
The signing of the stablecoin-focused GENIUS Act into law and the House of Representatives' recent passage of the crypto-focused Clarity Act is drawing more attention to the digital asset market and how mainstream financial institutions will enter or expand their roles in stablecoins, bitcoin and other cryptocurrency.
JPMorgan is also reportedly considering plans to offer loans backed by customer crypto holdings as early as next year. JPMorgan did not mention any such plans in Wednesday's announcement or respond to a request for comment on these reports by time of publication, and it is unclear if the partnership is related.
Melinda Lucy (formerly Huspen) covers financial technology for American Banker and is based in New York, NY. Previously, she was a business reporting... Read full bio
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