Chase customers will be able to fund Coinbase accounts with credit cards
On July 30, leading U.S. crypto exchange Coinbase announced a partnership with JPMorgan Chase, aimed at expanding access to digital assets for the bank’s 80 million customers.
Starting this fall, Chase credit card holders will be able to fund their Coinbase accounts using their cards. However, Coinbase noted that some credit card transactions may be classified as cash advances.
By 2026, additional features will be introduced, including linking Chase bank accounts to Coinbase and converting Chase Ultimate Rewards points into Circle’s USDC stablecoin, issued on Base, Coinbase’s Ethereum Layer 2 network.
Coinbase called the partnership a step toward simplifying the fiat-to-crypto conversion process and giving traditional banking users more direct access to the crypto economy.
New gateways for converting fiat to cryptocurrency
The company highlighted that the reward conversion is the first-of-its-kind program allowing customers to turn loyalty points into digital dollars.
Faryar Shirzad, Coinbase's Chief Policy Officer, said this partnership is a major milestone toward “bringing the next billion users to blockchain.” He added that Coinbase remains focused on creating user-friendly products while advocating for crypto policy that supports access, innovation, and responsible regulation.
The agreement comes despite recent criticism of JPMorgan Chase by Gemini’s Tyler Winklevoss, who accused the bank of suppressing fintech and digital asset competition.
Some analysts also questioned the viability of the partnership due to high credit card fees when purchasing crypto. Bloomberg ETF analyst Eric Balchunas remarked that a low-fee Bitcoin ETF may be more effective for retail users.
As we wrote, Gemini slams JPMorgan for anti-competitive crypto market behavior
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