JPMorgan Chase has partnered with the cryptocurrency exchange Coinbase to introduce cryptocurrency integration services for its clients, marking an important step in connecting traditional finance with digital assets.
Coinbase announced on Wednesday that starting this fall, Chase credit card holders will be able to use their credit cards to purchase cryptocurrencies on Coinbase. Additionally, Coinbase stated that JPMorgan's customers will also be able to redeem their Chase Ultimate Rewards points for USDC in 2026.
Coinbase noted that this will be the first major rewards program that allows points to be redeemed for cryptocurrency rewards. "This is the first time a major credit card rewards program has points that can be redeemed for cryptocurrency rewards," Coinbase said.
Coinbase also mentioned that Chase card users can directly link their accounts with Coinbase. The exchange stated that the features launching in 2026 will provide users with a more convenient way to purchase cryptocurrencies.
This new integrated service is part of JPMorgan's broader push into the digital asset space.
On July 16, JPMorgan CEO Jamie Dimon revealed during an earnings call that the company plans to participate in the stablecoin business. This initiative is driven by competition with other fintech companies attempting to replicate the traditional financial system.
"We will participate in JPMorgan's deposit tokens and stablecoins to understand it and do it right," Dimon said.
In addition to stablecoins, JPMorgan is reportedly considering offering direct loans collateralized by Bitcoin (BTC) and Ethereum (ETH). On July 22, the Financial Times cited anonymous sources reporting the bank's exploration of cryptocurrency collateralized loans.
The report indicated that the bank might start offering cryptocurrency collateralized loans in 2026. However, these plans may change.
While JPMorgan may be focusing on cryptocurrency loans, 1inch co-founder Sergej Kunz stated that decentralized finance (DeFi) participants still have an advantage over the bank and other traditional financial players in the realm of cryptocurrency loans.
On Wednesday, Kunz told Cointelegraph that DeFi's advantage lies in providing a wider range of acceptable loan collateral. He added that market-driven optimizations in DeFi allow users to enjoy lower fees.
Related: Opinion: The GENIUS stablecoin bill passes, DePIN may be the next frontier
Original: “JPMorgan to Allow Cryptocurrency Purchases via Coinbase”
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