Today, JPMorgan Chase & Co (NYSE: JPM) and Coinbase (Nasdaq: Coin) announced a partnership.
The initial phase of the corporate relationship includes new features for mutual customers, such as:
- Immediate connection from bank to Wallet: Through JPMorgan’s secure API, Chase customers will be able to connect their bank accounts to Coinbase wallets seamlessly. This direct connection will help reciprocal customers to deal with the trust, security and privacy used as Chase customers.
- Transfer of Ultimate Rewards Chase: Chase customers will be able to transfer their final rewards points to their Coinbase account in a redemption ratio of one by one (100 points equals $ 1.00 at redemption price). This marks the first time that a significant credit card reward program will be used to finance a encryption wallet.
- Starting from this autumn, the ability to use Chase credit cards in Coinbase: For the first time, customers will be able to fund Coinbase accounts using Chase credit cards.
These direct features of banks to Wallet and final rewards are expected to be released in 2026 and the ability to use credit cards to finance a Coinbase account is due to be released in the fall in 2025.
“This partnership marks an important step forward in strengthening our customers to take control of their financial contracts,” said Melissa Feldsher, head of payments and lending innovation for JPMorganchase. “With the participation of forces with Coinbase, we enhance the security and privacy of our customers’ data, allowing them to use their money and rewards in new and exciting ways.
“We are excited to work with JPMorganchase to get on the next generation of consumers in encryption.