Coinbase and Chase partner to expand crypto access with direct credit card purchases and more
Coinbase announced a new partnership on Wednesday with banking giant JP Morgan Chase, offering cryptocurrency enthusiasts the ability to make instant purchases on the platform using Chase credit cards.
Starting in the fall, Coinbase said its customers will be able to use Chase credit cards to make crypto purchases, and then beginning next year, redeem Chase rewards points for the crypto stablecoin USDC, and directly link their Chase bank accounts to the Coinbase platform.
To note, JPMorgan Chase is the largest bank in the US with more than 80 million customers.
“We believe crypto is for everyone, and are excited to be working with JPMorgan to expand access, lower barriers to entry, and onboard the next wave of users into crypto, Coinbase said in the announcement.
Tradfi to Defi
The American cryptocurrency exchange platform posted about the partnership on X, citing the “acceleration of crypto adoption.“
“Bridging tradfi to crypto,” the company wrote, referring to an industry phrase highlighting the integration of ‘traditional finance’ and cryptocurrency infrastructure, which will allow financial institutions to enter the crypto markets securely.
We're partnering with @Chase to accelerate crypto adoption.
undefined Coinbase 🛡️ (@coinbase) July 30, 2025
Coming soon:
→ Use Chase credit cards on Coinbase
→ Redeem rewards points for USDC
→ Directly link Chase accounts to Coinbase
Bridging tradfi to crypto. pic.twitter.com/ObxIaMWI3J
Wayne Huo, the CEO of crypto financial services company Amber Premium, told The Financial in May that the industry is “seeing two powerful trends converge: bringing TradFi assets on-chain to unlock blockchain’s speed, transparency, and programmability (what we call RWA-Fi), and packaging crypto-native assets into TradFi-native formats — like funds, ETPs, or equity-linked proxies.”
This is so traditional capital can flow in without friction, Huo explained.
“Institutions want more than access — they want confidence: in compliance, in counterpart, in infrastructure. The real breakthrough isn’t just plugging DeFi [decentralized finance] into TradFi — it’s re-architecting how financial systems talk to each other,” Huo said.
Besides seamlessly linking Chase bank accounts to Coinbase, the deal makes Chase the first brick-and-mortar bank to allow points earned from a major credit card rewards program to be redeemed for crypto rewards.
“In 2026, Chase customers will be able to convert their Chase Ultimate Rewards points to USDC on Base in Coinbase,” the company said.
The USDC digital dollar (released by Circle) is considered the second-largest stablecoin per market cap. Its value is pegged to the US dollar, meaning it aims to maintain a 1:1 value ratio with the USD.
Chase policy confuses some
Ironically, some X users couldn’t help but call out the bank for its currently posted crypto policies, which took effect in October 2023.
“Ah the ole switcheroo, huh? chase debanked me for using crypto. now they want in? funny how that works,” X user @onchain69 commented.
X user @KristineCranley posted a marked-up in red copy of the Chase policy, “@ chase is this you?”
“To help keep your money safe from fraud and scams, we're changing the types of payments you can make from Chase. From 16 October 2023, if we think you're making a payment related to crypto assets, we'll decline it,” the bank’s policy states.
“We've made this decision because fraudsters are increasingly using crypto assets to steal large sums of money from people. Declining these payments is one of the ways we're helping keep you and your money safe,” Chase said.
Currenty JP Moragn Chase allows custimers to invest in EFTs.
