In a radical shift that reflects the accelerating integration of major banks into the world of digital assets, cryptocurrency exchange Coinbase announced a strategic partnership with JPMorgan Chase (NYSE:JPM) that will allow the bank's customers to use digital currencies in their daily banking services.
Under the agreement, Chase credit cardholders will be able to purchase cryptocurrencies directly on the Coinbase platform using their cards, starting in the fall of 2025. Coinbase also revealed that its popular Chase Ultimate Rewards program will allow customers to exchange their points for the stablecoin USDC by 2026, a first for the US banking system.
Coinbase also plans to offer the option to link Chase accounts directly to its platform, providing users with a seamless cryptocurrency buying experience without the need for intermediate steps, as part of its expansion plan for 2026.
This partnership reflects JPMorgan's growing embrace of blockchain and cryptocurrency technologies. On July 16, CEO Jamie Dimon confirmed during an earnings call that the bank intends to expand its use of stablecoins, saying, "We will be in the JPM Coin space and stablecoins, understanding them and excelling at them."
In a further development, reports from the Financial Times indicate that the bank is considering offering loans secured by crypto assets such as Bitcoin and Ethereum, with the potential to launch the service in 2026, although the plan is still in its early stages.
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