The largest U.S. bank, JPMorgan Chase, has teamed up with cryptocurrency exchange Coinbase to allow customers to link bank accounts. However, Coinbase maintains it will not sever ties with data aggregators despite its partnership with the bank.
JPMorgan Taps Coinbase For Crypto Offering
According to a press release, JPMorgan and Coinbase have signed a strategic partnership to improve crypto purchases for customers. The deal features a direct bank-to-wallet connection, allowing Chase customers to merge their bank accounts with their Coinbase wallets, using JPMorgan’s API.
Furthermore, the partnership between America’s largest bank and cryptocurrency exchange will allow Chase customers to transfer reward points to Coinbase at a 1:1 redemption ratio. Meanwhile, users will be able to fund their Coinbase accounts via Chase credit cards, starting in September.
However, the joint statement noted that the bank-to-wallet connection and reward conversion functionalities will go live in 2026.
“We’re excited to partner with JPMorganChase to onboard the next generation of consumers into crypto,” said Coinbase Head of Consumer & Business Products Max Branzburg. “Together, we are expanding choice and lowering barriers to entry for consumers to participate in the future of financial services on-chain.”
Amid the announcement, Trading View data revealed that Coinbase stock is up over 3% today, trading at around $384. The JPMorgan stock is also in the green, trading just below $300.
Coinbase is on a red-hot streak of tying up partnerships to deepen cryptocurrency adoption. Recently, Coinbase partnered with Samsung Pay, allowing users to buy cryptocurrencies without the hassle of switching apps.
Furthermore, Coinbase and PNC Bank have inked a strategic partnership with the traditional financial institution keen on offering a suite of cryptocurrency services to its customers. The JPMorgan partnership means that the exchange has now partnered with two of the largest U.S. banks.
Fee Structure Raises Concerns Among Investors
Following the announcement, Bloomberg analyst Eric Balchunas has poked holes in the partnership over the fee structure. Particularly, Balchunas noted that the integration of the JPMorgan Chase credit cards will cost users 1.4% in commissions for every cryptocurrency purchase.
The analyst argued that a 0.40% fee is too high for users, while disclosing that a better play would be for JPMorgan to float a Bitcoin ETF and charge lower fees.
I dont understand. Why lead innocent investors into absurd those 1.4% commissions every time they buy crypto. Even 40bps too high IMO. Should just launch a JPM Bitcoin ETF (or pick existing one) and put them in that (1-2bps). https://t.co/sB2rV3VfDA
— Eric Balchunas (@EricBalchunas) July 30, 2025
Although JPMorgan has shown no intention to launch a Bitcoin ETF. It is worth mentioning that the banking giant already plans to accept BlackRock’s Bitcoin ETF as collateral. Furthermore, as CoinGape recently reported, the bank could start offering Bitcoin and Ethereum-backed loans as early as 2026.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
✓ Share: