JP Morgan Will Allow Crypto Purchases With Coinbase
JPMorgan Chase has partnered with Coinbase to bring new crypto features to its customers, marking a further step toward integrating traditional banking with digital assets.
Coinbase announced that, starting this fall, Chase credit card holders will be able to purchase cryptocurrencies directly on its platform using their cards. Looking ahead to 2026, JPMorgan customers will also gain the ability to redeem Chase Ultimate Rewards Points for the stablecoin USDC.
Coinbase noted that this would be the first time a major credit card rewards program offers crypto redemptions, stating, “For the first time, points from a major credit card rewards program will be redeemable for crypto rewards.”
Additionally, Coinbase shared that Chase cardholders will be able to link their accounts directly to the exchange beginning in 2026, simplifying the process of buying digital assets.
These developments reflect JPMorgan’s growing involvement in the crypto space. In an earnings call on July 16, CEO Jamie Dimon stated that the company plans to engage with stablecoins and its own JPMorgan deposit coin to remain competitive with fintech firms replicating traditional financial services. “We’re going to be involved in both JPMorgan deposit coin and stablecoins to understand it and be good at it,” Dimon said.
JPMorgan is also reportedly considering offering loans backed by Bitcoin and Ethereum. According to sources cited by the Financial Times on July 22, the bank is exploring crypto-backed lending services, which could launch as early as 2026, though the plans remain tentative.
Despite this push into crypto lending, decentralized finance (DeFi) platforms still offer advantages. Sergej Kunz, co-founder of 1inch, told Cointelegraph that DeFi platforms maintain an edge by accepting a broader range of collateral and providing lower, market-optimized fees.
Sources:
https://cointelegraph.com/news/jpmorgan-coinbase-partnership-crypto-rewards-usdc
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