 
 
JPMorgan is taking a step further into the crypto space by forging a strategic partnership with Coinbase to make it quicker and much easier for the bank’s over 80 million customers to buy crypto, a key step in bridging traditional finance with digital assets.
JPMorgan Taps Coinbase For Major Crypto Offering
The deal between crypto exchange Coinbase and Wall Street giant JPMorgan will introduce three key features, including direct integration with the bank, the ability to fund crypto purchases using Chase credit cards, and the option to redeem Ultimate Rewards points into USDC.
Coinbase said in a blog post that the features are currently being phased in. Starting this fall, Chase credit card holders will be able to make purchases on Coinbase. Rewards redemption and bank account linking are scheduled to go live in 2026.
Coinbase called the points redemption “the first time” a major rewards program will allow conversion into a crypto asset. Users will be allowed to convert points at a rate of 100 points to $1 in USDC on Base, Coinbase’s Ethereum Layer 2 blockchain.
“This partnership marks a significant step forward in empowering our customers to take control of their financial futures,” quipped Melissa Feldsher, Head of Payments and Lending Innovation for JPMorganChase. Coinbase indicated that the partnership was “just the beginning,” suggesting additional integrations planned in the foreseeable future.
 
JPMorgan’s Deepening Crypto Play
The partnership is especially notable given JPMorgan CEO Jamie Dimon’s well-documented disdain for Bitcoin and other cryptocurrencies. The bank, with Dimon’s blessing, of course, continues to build its business in the crypto space.
Dimon disclosed during an earnings call earlier this month that the company was planning to get more involved in stablecoins amid increasing competition from fintech companies — even though he’s not convinced by the tokens’ practical utility compared to traditional rails.
As ZyCrypto previously reported, JPMorgan Chase is also exploring the option of offering loans directly secured by clients’ Bitcoin and Ethereum holdings as early as next year.
Source: https://zycrypto.com/wall-street-banking-giant-jpmorgan-partners-with-coinbase-to-let-customers-easily-buy-crypto/