Coinbase stock rises after strategic partnership with JPMorgan Chase

Investing.com -- Coinbase (NASDAQ:COIN) stock rose 1.5% after announcing a strategic partnership with JPMorgan Chase (NYSE:JPM) that will make cryptocurrency purchases more accessible to bank customers.

The collaboration will introduce several new features for mutual customers, including a direct bank-to-wallet connection that allows Chase customers to link their bank accounts to Coinbase wallets through JPMorgan’s secure API. This marks a significant development in mainstream banking’s approach to cryptocurrency services.

Under the partnership, Chase customers will also be able to transfer their Chase Ultimate Rewards points to their Coinbase accounts at a one-to-one redemption ratio, with 100 points equaling $1.00 in redemption value. This represents the first time a major credit card rewards program will enable direct funding of a crypto wallet.

Additionally, beginning in Fall 2025, customers will have the ability to fund their Coinbase accounts using Chase credit cards. The direct bank-to-wallet connection and Ultimate Rewards features are expected to launch in 2026.

"This partnership marks a significant step forward in empowering our customers to take control of their financial futures," said Melissa Feldsher, Head of Payments and Lending Innovation for JPMorgan Chase, highlighting the enhanced security and privacy benefits for customers.

Max Branzburg, Head of Consumer & Business Products at Coinbase, noted that the partnership aims to "expand choice and lower barriers to entry for consumers to participate in the future of financial services onchain."

The partnership represents a notable shift in JPMorgan’s stance toward cryptocurrency, potentially opening crypto access to millions of Chase banking customers.

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