JPMorgan to allow crypto purchases with Coinbase
Coinbase announced Wednesday that Chase credit card holders can use their cards to buy crypto on Coinbase starting this fall. In addition, Coinbase said JPMorgan's customers will also be able to redeem their Chase Ultimate Rewards Points for USDC in 2026.
Coinbase said this will be the first major rewards program redeemable for crypto. 'For the first time, points from a major credit card rewards program will be redeemable for crypto rewards,' Coinbase said.
Coinbase also said Chase card users can link their accounts to Coinbase directly. The exchange said this feature, scheduled for 2026, will give users easier ways to buy crypto.
JPMorgan continues its crypto journey
The new integration follows a broader push by JPMorgan into digital assets.
On July 16, JPMorgan CEO Jamie Dimon revealed in an earnings call that the company had plans to be involved in stablecoins. The move was driven by competition with other fintech companies that are trying to replicate traditional financial systems.
'We're going to be involved in both JPMorgan deposit coin and stablecoins to understand it and be good at it,' Dimon said.
Apart from stablecoins, JPMorgan is reportedly looking to offer direct loans against Bitcoin and Ether. On July 22, the Financial Times cited anonymous sources who reported the bank's exploration of crypto-backed loans.
The report said the bank may start lending against crypto by 2026. However, the plans are subject to change. Fees, collateral remain DeFi's edge on crypto lending
Even though JPMorgan may be eyeing crypto loans, decentralized finance (DeFi) players still have advantages over the bank and other traditional finance players on crypto loans, according to 1inch co-founder Sergej Kunz.
On Wednesday, Kunz told Cointelegraph that DeFi's strengths lie in offering a wider range of accepted loan collateral. He added that market-driven optimization in DeFi allows users to enjoy lower fees.
Source: https://cointelegraph.com/news/jpmorgan-coinbase-partnership-crypto-rewards-usdc
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
3 hours ago
- The National
AI chip smuggling 'gets more airtime than it should', White House official says
The idea of high-performance AI chips being smuggled into potentially nefarious hands gets more attention than it should, a White House official has said. Michael Kratsios, who serves as director for the Trump administration's Office of Science and Technology Policy, said on Wednesday that there are a lot of misconceptions and misguided fears about the 'physical diffusion' of artificial intelligence technology developed by the US. 'We're not talking about like a bag of diamonds or something,' he said during a discussion at the Centre for Strategic and International Studies think tank about Mr Trump's recently announced AI Action Plan. Some politicians have expressed concerns about the potential for recently announced US AI partnerships overseas to be exploited by countries like China to try to acquire powerful American-made technology. 'These are like massive racks that are tonnes in weight and you're not going to put it on a forklift or back it into a truck, or something," he explained, adding that the idea of chip smuggling "probably gets more airtime than it should." Mr Kratsios also said the hypothetical scenario of the US partnerships with other countries leading to the misuse of data centres by countries like China for 'training runs' to access the centres was overblown. 'What you're most worried about is large-scale runs that are for training sophisticated models and those are actually pretty easy to flag,' he said, adding that the US will make sure to implement what's known in IT circles as Know Your Customer policies to prevent bad actors from gaining access to data centres powered by US technology. Mr Kratsios said that Mr Trump's predecessor, Joe Biden, put too many chip export restrictions on allies, and that the export of US technology to countries with peaceful AI aspirations was critical to an overall AI strategy. During Mr Trump's visit to the Gulf in May, he announced the US-UAE AI Acceleration Partnership framework that will eventually lead to the construction of a 5GW UAE-US AI Campus in Abu Dhabi. 'The [Biden administration] limits made no sense at all,' he said, referring to President Biden's policies aimed at limiting the powerful CPUs and GPUs available to certain countries. Those policies were largely aimed at preventing the diffusion of US technology to China. It proved controversial, with companies like Microsoft and Nvidia claiming the policies hurt US efforts more than helping. Some US AI companies like Anthropic, however, have sought to keep the export controls. 'In some cases, smugglers have employed creative methods to circumvent export controls, including hiding processors in prosthetic baby bumps and packing GPUs [graphics processing units] alongside live lobsters,' read an April policy letter from Anthropic. That letter later came under criticism over what some called the oversimplification of how AI data centres work. Regardless, in keeping with that theme of reversing the Biden export policy, the Trump White House recently announced plans that would allow for Nvidia to resume sales of its H20 graphics processing unit to China. That decision, however, has come under criticism from several technology analysts and politicians. A group of Democratic senators this week sent a letter to Commerce Secretary Howard Lutnick urging him to reverse course. At the CSIS event, Mr Kratsios said the concerns from Democratic senators were oversimplified, adding that the H20 was designed to comply with US concerns about giving China too much computing power, among other things. 'It's not a free-for-all sale,' he said, referring to White House's H20 announcement. 'Any sale that Nvidia wants to make to China is one that's going to require an export licence.' Mr Kratsios added that the Commerce Department's Bureau of Industry and Security would be evaluating each of those licence applications and 'weight the costs' before giving Nvidia approval.
UAE Moments
5 hours ago
- UAE Moments
♓ Pisces Daily Horoscope for August 2, 2025
Love & Relationships Your emotional antenna is finely tuned today. Connection comes easily, especially with people who intuitively 'get you.' In a committed partnership, a simple moment of appreciation goes a long way. Singles may find meaningful vibes in unexpected conversations. Career & Ambition Creativity is flowing—this is a perfect day for brainstorming, visual tasks, or collaborative thinking. Don't let self-doubt hold you back. Feedback or validation may come from an unexpected source—stay open and cooperative. Finances Your instincts around money are balanced now. You're not in the mood for risky decisions, but you sense which opportunities feel solid. Look for small doors opening—sometimes a subtle hint is all it takes. A quiet review of subscriptions or spending habits might reveal hidden value. Health & Wellness Your sensitivity is high—create a peaceful environment around you. Journaling, meditation, or a mindful walk can help keep you grounded. Your body may crave hydration and rest—listen to it. Avoid overloading your schedule; a little downtime supports clarity. Extras: Creativity & Encouragement Your imagination is vivid—use it. Creative outlet helps you align with your inner voice. Supportive friendships feel nurturing—reach out if you need encouragement or inspiration.
UAE Moments
5 hours ago
- UAE Moments
♋ Cancer Daily Horoscope for August 2, 2025
Love & Relationships Today brings emotional clarity, Cancer. You're more attuned to your needs and those of your peers. If you're single, someone may connect with you on a deep level—don't shy away. In long-term partnerships, a quiet conversation could strengthen your bond and bring mutual understanding. Career & Ambition Your empathetic nature serves you well at work today. You're able to diffuse tension and build bridges. If you've been thinking of introducing a new idea or project, now's a great time to pitch it—your timing is on point. Colleagues may want your input, which highlights your growing value. Finances Financially, today offers stability. You might see small returns from earlier efforts or receive feedback that helps you recalibrate. Avoid impulse buys, but being open to smart opportunities—like investing in learning—will pay off longer term. Health & Wellness Emotionally you're balanced, which fuels physical wellbeing. A light workout or mindful stretching helps you stay grounded. Limit digital chaos—particularly screens and noisy environments—to preserve your calm. A quiet evening with a nourishing meal will recharge you. Extras: Family & Self Family energy is supportive—someone might share a personal insight with you, and it feels meaningful. Time spent in quiet reflection or journaling helps you integrate recent emotional shifts.
