JPMorgan to enable crypto purchases via credit cards in Coinbase tie-up
(Reuters) -U.S. banking giant JPMorgan on Wednesday partnered with Coinbase to allow customers to fund their wallets using its Chase credit cards and buy cryptocurrency on the exchange starting in fall 2025.
Once viewed warily by traditional financial institutions, the digital assets industry has gained enough traction among consumers and investors that large banks are now entering the space.
From custody services to card-linked purchases, financial heavyweights are increasingly offering crypto-related products and mulling new use cases for the tokens, signaling how far the once-nascent market has matured.
The cryptocurrency market recently touched a $4 trillion valuation and is expected to grow further as regulatory clarity in major markets such as the United States drives broader adoption.
"Beginning in 2026, you'll be able to directly link your Chase account to Coinbase," the cryptocurrency exchange said in a blog post.
Starting in 2026, Chase customers will be able to redeem credit card reward points for USDC, a U.S. dollar-pegged stablecoin, and directly link their bank accounts to Coinbase to fund crypto purchases.
Stablecoins are a type of token designed to shield users from price volatility and are widely used as a bridge between traditional finance and digital assets.
With rising demand for low-cost, instant transactions, stablecoins are poised for rapid growth as adoption spreads across payments, trading and emerging financial platforms.
Earlier this month, PNC said it was working with Coinbase to offer crypto trading to the bank's customers.
Coinbase shares were last up 3% in premarket trading. They have surged about 50% so far this year, giving the crypto exchange a market value of about $95 billion and helping it secure a spot in the benchmark S&P 500 index, a milestone for the industry.
(Reporting by Manya Saini in Bengaluru; Editing by Shilpi Majumdar)
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