JPMorgan Chase and Coinbase have announced a strategic partnership to enhance cryptocurrency access for over 80 million Chase customers. Starting in 2026, Chase customers can link their bank accounts to Coinbase wallets via JPMorgan’s secure API, enabling seamless and secure crypto transactions without third-party aggregators like Plaid. This improves data privacy and transaction security.
Also in 2026, customers can convert Chase Ultimate Rewards points to USDC (a U.S. dollar-pegged stablecoin) at a 1:1 ratio (100 points = $1), marking the first time a major U.S. credit card rewards program allows direct crypto conversion. Beginning in Fall 2025, customers can use Chase credit cards to fund Coinbase accounts, though some purchases may be subject to cash advance terms.
This partnership aligns with JPMorgan’s broader digital asset initiatives, including the pilot of its JPMD deposit token on Coinbase’s Base blockchain. It reflects a growing trend of traditional banks embracing crypto under a favorable U.S. regulatory environment, aiming to lower barriers to entry and enhance customer choice in the crypto market.
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By facilitating institutional and retail crypto transactions through its API and Coinbase’s platform, JPMorgan gains access to valuable data on client behavior, market trends, and capital flows in the crypto ecosystem. This can inform its investment strategies and product development. The partnership strengthens JPMorgan’s ability to monitor institutional adoption of digital assets, positioning it to anticipate and capitalize on market shifts.
The pilot of JPMorgan’s JPMD deposit token on Coinbase’s Base blockchain demonstrates its commitment to tokenized assets. This could attract institutional investors interested in blockchain-based financial instruments, such as tokenized securities or stablecoins, driving further capital into JPMorgan’s ecosystem.
The collaboration enhances JPMorgan’s reputation as a leader in blockchain innovation, appealing to institutions exploring decentralized finance (DeFi) solutions. By partnering with Coinbase, a regulated and trusted crypto platform, JPMorgan mitigates operational and reputational risks associated with direct crypto exposure. This is critical for institutional clients who prioritize security and compliance, encouraging larger capital allocations.
The partnership allows JPMorgan to offer crypto services without building a full in-house crypto infrastructure, reducing costs while meeting client demand. Institutional investors, such as pension funds, endowments, and asset managers, are increasingly allocating portions of their portfolios to crypto assets, especially Bitcoin, Ethereum, and stablecoins like USDC. By providing seamless access to Coinbase’s markets, JPMorgan can capture a share of these allocations, potentially increasing AUM in its wealth management and institutional banking divisions.
The JPMD deposit token pilot could attract institutional clients seeking efficient, blockchain-based payment solutions, further boosting JPMorgan’s role as a custodian or facilitator of digital asset flows. Institutional clients engaging with crypto through JPMorgan’s platform may also utilize its other services, such as custody, lending, or advisory. This creates opportunities to cross-sell high-margin products, enhancing profitability.
For example, a hedge fund using JPMorgan’s API for crypto transactions might also seek its prime brokerage services, deepening the client relationship. As one of the first major U.S. banks to offer direct crypto access through a partnership with Coinbase, JPMorgan establishes itself as a forward-thinking leader in financial innovation. This enhances its appeal to institutional investors who value banks that bridge traditional and digital finance.
Institutional crypto adoption is accelerating, with global crypto market capitalization growing and institutional inflows into crypto ETFs and funds reaching record highs in 2025. By positioning itself as a key on-ramp for institutional flow, JPMorgan can capture a portion of this capital, earning fees and interest on transactions and custody services. The ability to redeem Chase Ultimate Rewards points for USDC may indirectly drive institutional interest, as high-net-worth individuals and corporate clients use this feature, signaling broader acceptance of crypto within JPMorgan’s ecosystem.
JPMorgan’s partnership with Coinbase positions it to capitalize on the growing institutional appetite for cryptocurrencies by: Generating revenue from transaction fees, custody, and tokenized asset services. Attracting and retaining institutional clients with crypto-integrated banking solutions. Enhancing its market position as a leader in bridging TradFi and DeFi.