Crypto Meets Chase: JPMorgan Lets Customers Fund Coinbase, Redeem Points

JPMorgan Chase has entered into a groundbreaking collaboration with Coinbase, giving millions of its customers more direct access to cryptocurrencies. Announced on July 30, 2025, the partnership will roll out in phases. Starting fall 2025, Chase credit cardholders will be able to use their cards to fund Coinbase accounts, although certain transactions may be treated as cash advances depending on card issuer policies. Then, in 2026, Chase customers will unlock two major crypto-friendly features: they’ll be able to connect their bank accounts directly to Coinbase using JPMorgan’s secure APIs, eliminating the need for third-party data services, and they’ll also have the option to convert Chase Ultimate Rewards points into USDC at a fixed rate—100 points equals $1 in stablecoin.

This initiative marks a significant step toward integrating traditional banking with digital assets. By streamlining access and removing third-party friction, JPMorgan is delivering a more secure, compliant, and user-friendly crypto experience. Customers will benefit from faster onboarding, greater control, and the ability to use familiar banking tools to interact with digital currencies. For Coinbase, this integration broadens its user base and strengthens its presence in mainstream finance.

While Chase users can now explore crypto purchases using rewards points or credit cards, analysts caution that using credit may involve higher fees, making it less cost-effective than alternatives like spot Bitcoin ETFs. Still, the ability to turn loyalty rewards into stablecoins is a first for any major U.S. card issuer—and a big step for customer adoption.

Even with JPMorgan CEO Jamie Dimon’s past criticisms of cryptocurrency, this partnership reflects a shifting stance. The bank’s growing involvement in blockchain, including the development of its own deposit tokens on Coinbase’s Base network, highlights how even traditional institutions are embracing the evolving digital finance landscape.