JPMorgan Partners with Coinbase, Letting Millions of Chase Customers Buy Crypto Instantly

JPMorgan, Chase, and Coinbase have announced a partnership that will give over 80 million Chase customers new access to crypto through a series of integrations. The collaboration includes credit card funding, bank account linking, and the ability to redeem Chase rewards points for stablecoins.

Coinbase announced that starting this fall, Chase customers will be able to fund their Coinbase accounts directly using Chase credit cards. The announcement also noted that customers will gain the option to link their Chase bank accounts with Coinbase in 2026.

Coinbase noted that by 2026, the Chase Ultimate Rewards program will allow users to redeem points for USDC, Coinbase’s preferred stablecoin, on Base, the Layer 2 blockchain developed by the exchange.

Coinbase described the partnership as a major step in lowering entry barriers to crypto. “We believe crypto is for everyone,” the company said in a statement. “This is just the beginning.”

Coinbase and JPMorgan Partner to Bring Tokenized Deposits to Base

This isn’t the first rodeo between JPMorgan and Coinbase, as JPMorgan, the largest U.S. bank, has been increasingly active in blockchain infrastructure. This is evidenced by its recently launched “JPMD,” a tokenized deposit on Base, backed one-to-one by U.S. dollars.

The token launched on July 18 is JPMorgan’s latest blockchain-backed tool for digital payments, as the bank announced that JPMD was designed to enhance settlement and token movement across public blockchains, but in a controlled and compliant manner.

“JPMD is intended to enhance the global digital payments ecosystem by bringing trusted financial infrastructure onto public blockchain,” JPMorgan stated.

In parallel, JPMorgan has taken steps to bring crypto further into mainstream finance. The bank is reportedly exploring ways to lend against client-held Bitcoin and Ethereum, as well as expanding collateral options to include crypto ETFs like BlackRock’s iShares Bitcoin Trust. That service is expected to begin with high-net-worth clients and may expand over time.

CEO Jamie Dimon, long known for his essential stance on Bitcoin, recently acknowledged that stablecoins and deposit tokens are “real.”

He also said JPMorgan would be involved in both. While he still opposes fully decentralized crypto, Dimon has allowed the bank to gradually increase its exposure to digital asset services.

Banks Step Into Crypto as Traditional Finance with Coinbase as a Major Player

The line between traditional finance and crypto is vanishing fast. U.S. banking giants like JPMorgan, PNC Bank, Citigroup, and Fidelity are integrating crypto services into their platforms, allowing millions of customers to access digital assets directly through familiar banking apps.

This shift is making crypto more accessible to traditional users who were once held back by technical barriers or regulatory uncertainty.

Coinbase has emerged as a key player in bridging the gap. CEO Brian Armstrong stated on the company’s earnings call in May that the exchange is no longer just focused on trading but seeks to become the world’s leading financial services app.

“Crypto is eating financial services,” Armstrong said. “Money market funds, real estate, securities, debt—these are all coming on-chain.”

Coinbase already provides payments, staking, stablecoin rewards, and custodial services to institutions including BlackRock, Stripe, and PayPal.

This expansion coincides with a major regulatory pivot. In a major shift, the Office of the Comptroller of the Currency (OCC) has joined the Federal Reserve and FDIC in permitting regulated U.S. banks to buy, sell, and custody crypto assets.

Just last year, these agencies had warned against such partnerships. But with the Trump administration relaxing crypto-related constraints and Congress passing stablecoin legislation, traditional banks are jumping in.

The market is also being reshaped by the rise of spot ETFs, which allow investors to gain exposure to Bitcoin and Ethereum through traditional brokerage accounts. Products from BlackRock, Fidelity, and Grayscale have become key entry points for everyday investors.

As access improves and trust increases, capital from traditional institutions is pouring into crypto markets. The influx is supporting prices, increasing liquidity, and even stabilizing volatility.