According to the official announcement, the cooperation between the two parties includes:
Starting this fall, customers can use JPMorgan Chase credit cards to fund their Coinbase accounts.
From 2026, JPMorgan Chase credit card points can be redeemed for USDC, a stablecoin issued by Circle.
In the same year, JPMorgan Chase bank accounts will be directly linked to Coinbase.
This collaboration aims to simplify the process of fiat currency entering the cryptocurrency market, expanding Coinbase’s reach within the mainstream banking system in the United States, while allowing JPMorgan Chase customers to participate in cryptocurrency asset investment without leaving their existing banking relationships. The ability to convert credit card points into USDC, combined with the direct bank account linking feature, will further lower the barrier for fiat currency entry, aiding in the adoption of stablecoins among general consumers and middle-class users.
This partnership comes two weeks after U.S. banking regulators issued a joint statement that provided guidance on risk management measures banks should take when custodializing crypto assets for customers, which has also been interpreted by the market as a significant turning point in “giving banks more confidence to participate in digital asset services.”
Coinbase stated that this is the first time a mainstream banking rewards program allows points to be redeemed for cryptocurrency assets. According to the announcement, the functionality to convert points into USDC will operate directly on Coinbase’s Layer 2 network, Base, which is part of Coinbase’s strategy to encourage users to go on-chain and promote the Base ecosystem along with new apps.
Melissa Feldsher, Head of Payments and Lending Innovation at JPMorgan Chase, stated, “This partnership is an important step in helping our customers seize their financial future.” Coinbase also emphasized that this is just the beginning, with more integrated features to be launched in the future.
Coinbase’s banking channel strategy has further expanded with the collaboration with JPMorgan Chase. The exchange announced last week a new partnership with PNC Bank to provide cryptocurrency services to PNC customers, while PNC will provide specific banking support for Coinbase. This type of cooperative model demonstrates the deepening of bidirectional integration between exchanges and regulated banks.