JPMorgan Chase is stepping deeper into the world of cryptocurrency. The U.S. banking giant has partnered with Coinbase, one of the largest crypto exchanges, to offer new digital asset services to its customers. Starting this fall, Chase credit card holders will be able to buy cryptocurrencies directly through Coinbase. This marks a major step in bringing crypto closer to everyday banking.
The partnership will go further in 2026, with a new feature added to the Chase Ultimate Rewards program. For the first time, customers will be allowed to redeem their reward points for USDC, a stablecoin backed by the U.S. dollar. That means instead of using points for flights or gift cards, users can choose crypto. Chase will be the first major U.S. bank to make this kind of offer.
Coinbase will also enable a direct connection between Chase bank accounts and its crypto wallets. This new system removes the need for third-party apps like Plaid, offering a more secure and private way to move money between a bank and a crypto wallet. JPMorgan’s secure API will handle the link, adding a layer of trust and safety.
This move is a big shift for JPMorgan. Its CEO, Jamie Dimon, has long been a critic of Bitcoin. But the bank is now clearly changing its approach, opening doors to crypto for its more than 80 million customers.
However, there are still concerns. Buying crypto with a credit card could be treated as a cash advance, leading to extra fees and high interest. It’s also unclear how fraud or refunds will be handled. But for now, this partnership is being seen as a bold step forward in the connection between traditional finance and the digital future.
