thecryptobasic.com
Coinbase and JPMorgan Chase have announced a landmark collaboration, seamlessly bridging traditional finance with the digital asset industry.
A press release on July 30 disclosed a strategic partnership between the two to link user bank accounts with crypto wallets. Starting in 2026, Chase customers will now have a direct connection between their bank accounts and the Coinbase crypto wallet.
The partnership would also give JPMorgan clients the ability to use their Chase credit cards directly on Coinbase starting this fall. This facilitates the easy funding of their Coinbase accounts with simple steps using the Chase credit cards.
Notably, the announcement further mentions that Chase customers can now transfer and redeem their Chase Ultimate Rewards points on their Coinbase wallets. Coinbase, which recently added support for Samsung Pay, claimed this is the very first time that users can fund their crypto wallets with a major credit card rewards program.
Notably, the redemption would be on a 1:1 ratio, meaning that 100 points will equal a $1 value in USDC. Coinbase announced this service would resume alongside the direct bank-to-wallet feature in 2026, with rewards delivered directly on Base, a Coinbase-owned Ethereum layer 2 network.
JPMorgan Strengthens Crypto Relations Despite Skeptical CEO
Melissa Fedsher, the head of payments and lending innovation at JPMorgan Chase, noted that the collaboration marked a significant step in giving their customers control of their finances.
“By joining forces with Coinbase, we are enhancing the security and privacy of our customers’ data, allowing them to use their money and rewards in new and exciting ways,” Feldsher noted.
Meanwhile, this adds to the broader efforts by JPMorgan to allow customers access to the crypto ecosystem. The financial institution announced earlier this month that it is considering offering loans to clients with their crypto holdings as collateral.
Surprisingly, this comes despite its CEO, Jamie Dimon, remaining a crypto antagonist. He reiterated his pessimistic stance in May when he disclosed that the bank would enable its clients to buy Bitcoin.
Dimon explicitly noted that he is not a Bitcoin fan but says customers have the right to buy it. He drew a direct comparison with it and smoking, noting that although he thinks one should not smoke, he will “defend your right to smoke.”