JPMorgan Partners with Coinbase to Launch Bitcoin Buying And Selling

JPMorgan is partnering with Coinbase to bring crypto to its customers. Starting from this fall, customers would be able to use their cards to directly buy crypto.

JPMorgan's customers would also be able to redeem their Chase Ultimate Rewards points for USDC, with 100 points equalling $1 in redemption value.

JP Morgan stated that this would be the first time crypto would be used for a reward for a credit card user.

Starting Fall 2025, Chase customers will also be able to fund their Coinbase accounts using their credit cards.

JPMorgan lauded that this partnership, which involves the world's largest bank and the world's largest crypto exchange, would help mutual customers transact with confidence, security, and privacy.

This partnership comes on the heel of JPMorgan's wider push into digital assets. The company has recently announced during an earning call that the company plans to be involved in stablecoin.

The move was driven by competition with other fintech companies that are trying to replicate the traditional financial system. CEO Jamie Dimon previously stated

"We're going to be involved in both JPMorgan deposit coins and stablecoins to understand it and be good at it."

On top of stablecoin, JPMorgan is also looking to be the first bank to offer direct loans against Bitcoin and Ether. This initiative was first reported by the Financial Times, who cited two anonymous sources who revealed the bank's exploration of crypto-backed loans.

In the FT article, it was also reported that the bank might start initiating its crypto-back loan service in 2026. However, the plans are subjected to change.

Despite JPMorgan’s growing footprint in crypto lending, decentralized finance (DeFi) projects continue to outpace traditional banks in flexibility and cost efficiency.

Industry leader Sergej Kunz emphasized the edge DeFi has over banks, which includes broader collateral options and market-driven, lower lending fees—features that continue to attract users ahead of legacy financial institutions.