Wall Street Banking Giant JPMorgan (JPM) collaborates with Crypto Exchange Coinbase (Coin) to roll a number of integrations aimed at making it easier for the bank’s 80 million customers to buy Crypto.
The partnership allows JPMorgan customers to directly connect their bank accounts to Coinbase, redeem Ultimate Rewards -Points for USDC and use credit cards to finance crypto purchases.
The features are phased in, Coinbase said in a blog post. Credit card support is expected to launch in the fall, while Rewards Redemption and Bank Account -Linking is scheduled for 2026.
The exchange said this marks the first time that a large US credit card rewarding program can be used to buy crypto. Chase customers will be able to convert points at a speed of 100 points to $ 1 in USDC at Coinbases Basic Blocking.
“This partnership marks a significant step forward,” said Melissa Feldsher, head of payments and lending innovation at JPMorgan Chase. Max Branzburg, Coinbase’s head of consumer and business products, said the move is designed to “aboard the next generation” to Krypto.
The partnership is noteworthy, only a week after Gemini Exchange co-founder Tyler Winklevoss said JPMorgan stopped the onboarding process of the exchange after criticizing the bank’s new fee structure for fintech companies.
It is also remarkable considering JPMorgan CEO Jamie Dimon’s long -standing reluctance to crypto. The bank – with Dimon’s blessing – nevertheless continues to build its business in the crypto area.
