Financial services titan JPMorgan is collaborating with the top US-based crypto exchange platform Coinbase to link bank accounts with crypto wallets.
According to a new press release, the banking giant is partnering with Coinbase to launch a direct bank-to-wallet connection for customers, also allowing for the use of Chase credit cards on the crypto exchange.
-->Customers will be able to transfer their Chase reward points to Coinbase, marking the first time credit card rewards have been directly used to fund crypto wallets.
JPMorgan says that with this collaboration, it hopes to make purchasing digital assets easier and more secure than ever.
As stated by Melissa Feldsher, head of payments and lending innovation for JPMorgan,
“By joining forces with Coinbase, we are enhancing the security and privacy of our customers’ data, allowing them to use their money and rewards in new and exciting ways. With Ultimate Rewards, the most flexible loyalty program in the industry, our customers can now seamlessly and securely convert their points into cryptocurrencies.”
The bank says that the transfer of the credit card rewards won’t happen until sometime in 2026, while the ability to use credit cards to make purchases on Coinbase will start in the fall of 2025.
The announcement comes on the heels of billionaire and Gemini co-founder Tyler Winklevoss accusing JPMorgan of attempting to sabotage the crypto and fintech industries by charging companies fees to access their customers’ account information.
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