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NEW YORK - JPMorgan Chase (NYSE:JPM), the $817 billion banking giant trading near its 52-week high of $301.29, and Coinbase (NASDAQ:COIN) announced a partnership that will introduce new features for mutual customers to access cryptocurrency services, according to a press release statement. According to InvestingPro, JPMorgan maintains a GOOD financial health score and has delivered an impressive 26% return year-to-date.
The collaboration will include three key features: a direct bank-to-wallet connection allowing Chase customers to link their bank accounts to Coinbase wallets through JPMorgan’s secure API; the ability to transfer Chase Ultimate Rewards points to Coinbase accounts at a one-to-one redemption ratio (100 points equals $1.00); and the option to fund Coinbase accounts using Chase credit cards. For detailed analysis of JPMorgan’s strategic initiatives and 10+ additional ProTips, visit InvestingPro.
The credit card funding feature is expected to launch in Fall 2025, while the direct bank-to-wallet connection and Ultimate Rewards transfer capabilities are planned to go live in 2026.
Melissa Feldsher, Head of Payments and Lending Innovation for JPMorgan Chase, said the partnership enhances the security and privacy of customer data while allowing them to use their money and rewards in new ways.
Max Branzburg, Head of Consumer & Business Products at Coinbase, stated the partnership aims to "onboard the next generation of consumers into crypto" and expand choices for consumers to participate in financial services.
This marks the first time a major credit card rewards program will be used to fund a cryptocurrency wallet, according to the companies.
JPMorgan Chase, with $3.7 trillion in assets, serves millions of customers in the U.S. and globally, maintaining its position as a prominent player in the banking industry with consistent dividend payments for 55 consecutive years. Coinbase describes its mission as increasing economic freedom through its platform that facilitates trading, staking, safekeeping, spending, and transfers of crypto assets. Access comprehensive analysis and Fair Value estimates for both companies through their respective InvestingPro research reports, part of the platform’s coverage of 1,400+ US equities.
In other recent news, JPMorgan Chase has reported its second-quarter 2025 results, showcasing a 21% return on tangible common equity (ROTCE). This strong performance led Keefe, Bruyette & Woods to raise its price target for the bank to $330 while maintaining an Outperform rating. However, Phillip Securities downgraded JPMorgan from Accumulate to Neutral, citing macro uncertainties such as trade tensions and policy shifts that could impact the bank’s provisions and non-performing loans. In a strategic move, JPMorgan has appointed Mike Lister and Brennan Spry as co-heads of North America corporate banking to bolster its Commercial and Investment Banking unit. Additionally, the bank has launched a Solo 401(k) plan aimed at self-employed individuals, expanding its Everyday 401(k) product line with flexible investment options. These developments reflect JPMorgan’s efforts to adapt to changing market conditions and expand its service offerings.
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