JPMorgan Chase and digital currency exchange Coinbase have forged a partnership to offer enhanced transaction capabilities to their shared clientele.  

The partnership will allow the bank’s customers to connect their bank accounts directly to their Coinbase wallets using JPMorgan’s API.  

JPMorgan Chase will also enable its customers to convert their Chase Ultimate Rewards points into funds within their Coinbase accounts, allowing a major credit card rewards scheme to be directly applied to cryptocurrency wallets. 

Starting in the Fall of 2025, the partnership will extend to allow customers to use their Chase credit cards to add funds to their Coinbase accounts.  

Both the bank-to-wallet connection and the Ultimate Rewards conversion features are expected to be operational by 2026, with the credit card funding option available a year earlier. 

JPMorgan Chase head of payments and lending innovation Melissa Feldsher said: “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.  

Coinbase head of consumer & business products Max Branzburg stated: “We’re excited to partner with JPMorganChase to onboard the next generation of consumers into crypto. Together, we are expanding choice and lowering barriers to entry for consumers to participate in the future of financial services onchain.”  

This announcement comes in the wake of JPMorgan’s reported interest in assuming control of Apple’s credit-card programme, potentially succeeding Goldman Sachs as the provider for the tech company’s credit services.  

Last month, Coinbase introduced Coinbase Payments to enable the use of stablecoins for online purchases.